New jobless reports indicating that more people than expected filed for initial unemployment benefits in the last week of January drove markets down at midday. The Dow Jones Industrial Average was down 215 points in the early afternoon Thursday. The S&P 500 and Nasdaq Composite were also hard hit, falling more than 2 percent each.
The Nasdaq drop was led by AMAG Pharmaceuticals, Inc. which ran at lows on Thursday, down 8% for the day with option volume at 7 times the average.
Elsehwere, shares of MasterCard fell 10 percent following the release of the company’s most recent earnings report.
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