Markets collapse over concerns about China's economy

Falling crude oil price along with concerns about the Chinese economy sent the markets into a tailspin with the Dow crashing 530 points to 16,459. Nasdaq collapsed 171 points to 4,706.

On the upside

AAC Holdings (Nasdaq: AAC) provided an third quarter operational update and commented on a legal case in California.

Amira Nature Foods (NYSE: ANFI) rejected false and misleading claims made by Prescience Point Research Group.

New York & Co. (NYSE: NWY) reported a narrower than expected loss for the second quarter as revenue rose.

On the downside

New patient screenings for Northwest Biotherapeutics' (Nasdaq: NWBO) Phase III trial of DCVax-L for newly diagnosed glioblastoma multiforme has been temporarily suspended.

Bank of America Merrill Lynch downgraded Stage Stores (NYSE: SSI) from a Buy rating to an Underperform rating.

Netflix's (Nasdaq: NFLX) generous unlimited leave for new parents is not available to employees of its DVD business.

In the broad market, declining issues outpaced advancers by a margin of nearly 6 to 1 on the NYSE and by nearly 7 to 3 on Nasdaq. The broader S&P 500 slumped 64 points to 1,970. Bitcoin slipped $4 to $230.
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