The Dow drops 186 Points, Nasdaq Falls 28

The Dow drops 185.58 points to close at 13,360.26, the Nasdaq fell 28.0 points to close at 2,588.96, and the S&P 500 lost 19.63 points to close at 1,502.56. Oil gained $0.49 to close at $69.14.

Volume was extremely heavy due to the Russell rebalancing. 4.2 billion shares traded hands on the NYSE and 2.87 billion traded on the Nasdaq. Decliners crushed Advancers by a margin of 24:9 on the NYSE and 20:10 on the Nasdaq.

In individual stories, Blackstone Group (NYSE: BX) gained 13.1% - Today\'s IPO was priced at $31 per share, but opened higher continued to trade above the $34 mark all session.

Quantum Fuel Systems Technologies Worldwide (Nasdaq: QTWW) fell 20.1% after the company entered into definitive agreements with certain of its existing institutional investors as well as new institutional investors for an aggregate private placement of $18.75 million of common stock. Quantum will sell a total of 12.5 million shares at $1.50 per share, representing a discount from the June 21, 2007 closing price of $2.09.

You May Also Be Interested In

• After-Hours Movers: QCOM, COHR, APP, HUBS, SNAP, FSLY, FIG, ZG, BROS, CDE
• Wells Fargo starts On Holding at Overweight, sees growth reaccelerating in 2027
• Cipher Mining sinks 17% as Texas election puts AI data-center expansion at risk