Late Afternoon Sell-Off Sinks Stocks

A late afternoon sell-off sent the markets into a tailspin with the Dow collapsing 208 points to close at 15,115 but the blue chip index still managed to record gains for the month of May. Nasdaq plummeted 35 points to 3455.

On the upside

Shares of Epizyme (Nasdaq: EPZM) surged on its first trading day.

Pinnacle Entertainment (NYSE: PNK) engaged the Federal Trade Commission in discussions to allow its proposed acquisition of Ameristar Casinos (Nasdaq: ASCA).

Kamada (Nasdaq: KMDA) stock rose in its initial public offering.

On the downside

Motley Fool wrote that Mechel (NYSE: MTL) was over leveraged and must reorganize.

Shares of Real Goods Solar (Nasdaq: RSOL) continued falling as investors locked in profits.

Mellanox Technologies (Nasdaq: MLNX) will voluntarily delist its common shares from the Tel Aviv Stock Exchange.

  

In the broad market, declining issues outpaced advancers by a margin of more than 5 to 1 on the NYSE and by nearly 5 to 2 on Nasdaq. The broader S&P 500 index tumbled 23 points to 1630.

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