BUZZ-U.S. STOCKS ON THE MOVE-Global Blood Therapeutics, Alibaba, Banks, Steel firms
(For faster updates on individual market-movers, Eikon users please use search string "STXBZ US"; for the Day Ahead newsletter, link.reuters.com/mex49s; for the Morning News Call newsletter, link.reuters.com/nex49s) Wall Street was down more than 1 percent for the second day in a row as the continued decline in the yuan exacerbated fears about a global economic slowdown. The S&P 500 hit a one-month low and briefly turned negative for the year in morning trading on Wednesday, while the Dow fell to a six-month low.
The Dow Jones industrial average was down 1.41 percent at 17,156.72, the S&P 500 was down 1.35 percent at 2,056.03 and the Nasdaq Composite was down 1.54 percent at 4,959.006.
** GLOBAL BLOOD THERAPEUTICS INC, $38.55, +92.75 pct
The company's stock opened up $34.65 in its debut and went on to touch a session high of $40.99, more than double its IPO price of $20.
** ALIBABA GROUP HOLDING LTD, $72.3, -6.52 pct
** YAHOO INC, $33.96, -5.75 pct
China's biggest e-commerce company's quarterly revenue rose 28 percent, missing analysts' estimates, with growth slowing to its lowest rate in more than three years. Continued...