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Markets crash on renewed rate concerns

The markets retreated in late afternoon trading to close sharply lower with the Dow crashing 380 points to 25,029 over renewed interest rate concerns. Nasdaq tumbled 57 points to 7273.

On the upside

Etsy (Nasdaq: ECYT) priced its public offering of approximately 17.8 million common shares at $4.20 per share.

Axon Enterprise (Nasdaq: AAXN) reported a smaller than expected loss for the fourth quarter on record revenue.

Student Transportation (Nasdaq: STB) will be acquired by a group of investors led by CDPQ.

On the downside

Frontier Communications (Nasdaq: FTR) widened losses for the fourth quarter and suspended its dividend.

Community Health Systems (NYSE: CYH) widened fourth quarter losses significantly as revenue fell.

Maiden Holdings (Nasdaq: MHLD) widened losses for the fourth quarter.

In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 2 on the NYSE and by 8 to 3 on Nasdaq. The broader S&P 500 plunged 30 points to 2,713. Bitcoin plummeted $107 to $10,644.

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