Markets plummet even as jobless claims fall

Jobless claims fell last week but the markets tumbled at the open with the Dow plummeting 202 points to 15,712 as crude oil prices slipped below $27. Nasdaq dropped 31 points to 4,252.


On the upside


TripAdvisor (Nasdaq: TRIP) reported better than expected fourth quarter earnings and revenue.


Kinross Gold (NYSE: KGC) narrowed fourth quarter losses and forecast record production for 2016.


Tesla (Nasdaq: TSLA) widened losses for the fourth quarter but the electric vehicle maker forecast strong 2016 sales .


On the downside


Zynga (Nasdaq: ZNGA) widened losses for the fourth quarter and forecast current quarter revenue below estimates.


Incyte (Nasdaq: INCY) discontinued a Phase 3 study of ruxolitinib combined with capecitabine to treat advanced or metatastic pancreatic cancer.


Flower Foods (NYSE: FLO) reported lower fourth quarter earnings and revenue that fell short of expectations prompting a downgrade.


In the broad market, declining issues outpaced advancers by a margin of nearly 4 to 1 on the NYSE and by a nearly 3 to 1 on Nasdaq. The broader S&P 500 plunged 21 points to 1,830. Bitcoin slipped $1 to $380.

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