The markets tumbled to close sharply lower with the Dow plummeting 133 points to 15,168 as lawmakers failed to seal a deal on raising the debt ceiling. Nasdaq fell 21 points to 3794.

On the upside

Shares of VisionChina Media (Nasdaq: VISN) surged for a second day on no apparent news.

China New Borun (NYSE: BORN) issued a press release stating that it does not comment on unusual activity as it’s stock price more than doubled.

Opko Health (NYSE: OPK) extended its gains.

On the downside

J.C. Penney (NYSE: JCP) denied rumors that it hired an bankruptcy advisor but the stock price fell. 

Invesco (NYSE: IVZ) fund manager Neil Woodford will leave the firm.

Canaccord Genuity downgraded Coronado Biosciences (Nasdaq: CNDO) from a Buy rating to a Hold rating.

In the broad market, declining issues outpaced advancers by a margin of more than 3 to 1 on the NYSE and by nearly 5 to 2 on Nasdaq. The broader S&P 500 dropped 12 points to 1698.