MF Global’s Chapter 11 bankruptcy filing sent the markets tumbling to a sharply lower close with the Dow collapsing 276 points to 11,955. Nasdaq plummeted 52 points to 2684.

On the upside

World Street Fundamentals issued a research report on Sify Technologies (Nasdaq: SIFY).  

ITT (NYSE: ITT) completed the spin-off of its Defense and Information Systems division and its Water Technology and Services unit. 

B&G Foods (NYSE: BGS) will pay approximately $325 million in cash to acquire the Mrs. Dash, Molly McButter, Sugar Twin, Baker’s Joy, Static Guard and Kleen Guard brands from Unilever. 

On the downside

Deutsche Bank (NYSE: DB) sold $1.02 billion in MF Global (NYSE: MF) bonds. MF Global filed for Chapter 11 bankruptcy protection today.

Jefferies Group (NYSE: JEF) said that it had less than $9 million of exposure to MF Global Holdings (NYSE: MF).   

Shares of Lincoln National  (NYSE: LNC) tumbled after MF Global (NYSE: MF) filed for Chapter 11 bankruptcy protection.

In the broad market, declining issues outpaced advancers by a margin of more than 4 to 1 on the NYSE and by 7 to 2 on Nasdaq. The Russell 2000 which tracks small cap tumbled 19 points to 741.