Stocks End Q1 on a Sour Note, Dow Industrials Drop 200 Points

U.S. stocks finished the last day of the first quarter on a down note. The sell-off accelerated in late trading with the Dow dropping 200 points Tuesday.
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U.S. stocks finished the last day of the first quarter on a down note. The sell-off accelerated in late trading with the Dow dropping 200 points Tuesday. The S&P and Nasdaq managed to maintain their losses to just under 1% and still finished Q1 with gains. Oil prices also continued to slide. Crude fell $1.08 to settle at $47.60 as talks in Iran approached their deadline. Stocks like Intercept Pharmaceuticals (ICPT) weighed on the markets. The company will sell 1.2 million of its common stock in a secondary offering. Philips Electronics (PHG) pulled lower after striking a deal to sell 80.1% stake in its lighting unit for $2.8 billion. There were some gainers in the session including retailers Aeropostale (ARO) and J.C. Penney (JCP). J.C. Penney investors bagged almost 7.5% after Piper Jaffray raised its price target to $14 a share.