An unexpected increase in jobless claims sent the markets tumbling to a sharply lower open with the Dow collapsing 218 points to 17,130. Nasdaq plummeted 69 points to 4,949.

On the upside

Shares of Peabody Energy (NYSE: BTU) continued rising.

Gold prices continued to climb lifting shares of Barrick Gold (NYSE: ABX) and Gold Fields (NYSE: GFI).
 
Eli Lilly (NYSE: LLY) reported positive results from a long term clinical trial investigating cardiovascular outcomes for Jardiance in adults with type 2 diabetes.
 
On the downside

Second quarter earnings fell for Jumei International (NYSE: JMEI).

Amira Nature Foods (NYSE: ANFI) engaged ASA & Associates to serve as independent auditors to the company.

Profit taking sank shares of Celsus Therapeutics (Nasdaq: CLTX).

In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 1 on the NYSE and by more than 4 to 1 on Nasdaq. The broader S&P 500 plunged 23 points to 2,056. Bitcoin gained $13 to $233.