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Markets crash as bond yields surge

Surging bond yields sent the markets tumbling with the Dow crashing 665 points to 25,520. Nasdaq plummeted 144 points to 7240.


On the upside


Viking Therapeutics (Nasdaq: VKTX) priced its public offering of 11 million common shares at the discounted price of $5.00 per share but the stock price climbed.


Shares of FTS International (NYSE: FTSI) soared on its first trading day.


Fourth quarter earnings surged for athenahealth (Nasdaq: ATHN).

On the downside


RBC Capital downgraded Impinj (Nasdaq: PI) from an Outperform rating to a Sector Perform rating.


Acute (Nasdaq: ACET) widened losses for the second quarter.


YRC Worldwide (Nasdaq: YRCW) reported a loss for the fourth quarter.


In the broad market, declining issues outpaced advancers by a margin of nearly 9 to 1 on the NYSE and by nearly 5 to 1 on Nasdaq. The broader S&P 500 plunged 59 points to 2,762. Bitcoin added $32 to $8,798.


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