Dow Falls Over 200 Points; Xenon Pharmaceuticals Shares Plunge

U.S. stocks traded lower midway through trading, with the Dow Jones index falling over 200 points on Friday.The Dow traded down 0.45% to 51,544.44 while the NASDAQ declined 0.16% to 26,376.37. The S&P 500 also fell, dropping, 0.24% to 7,619.32.Leading and Lagging SectorsEnergy shares rose by 0.2% on Friday.In trading on Friday, materials stocks fell by 1.4%.Top HeadlineU.S. industrial production came in unchanged in August following a 0.2% gain in July, and down from market estimates of a 0.3% rise. Manufacturing output fell 0.3% in August, compared to market estimates of a 0.3% rise.Equities Trading UP Securitize Corp (NYSE:SECZ) shares shot up 10% to $9.81. StoneX analyst Mark Palmer maintained Securitize with a Buy and raised the price target from $10 to $12. Shares of Hyperliquid Strategies Inc (NASDAQ:PURR) got a boost, surging 6% to $13.63 as traders reacted to the SEC’s approval of innovation relief tied to tokenized U.S. stock trading on public blockchains. Mistras Group Inc (NYSE:MG) shares were also up, gaining 6% to $21.01 after the company agreed to be acquired by affiliates of H.I.G. Capital in an all-cash transaction. Equities Trading DOWN Stardust Power Inc (NASDAQ:SDST) shares dropped 39% to $0.15, reversing part of Thursday’s rally as investors digest an updated stock offering and the potential for further dilution. Shares of Xenon Pharmaceuticals Inc (NASDAQ:XENE) were down 29% to $40.55 after the company announced it voluntarily initiated a temporary pause of enrollment of new patients in ongoing psychiatry studies. Multiple firms lowered their respective price targets on the stock. Evolution Metals & Technologies Corp (NASDAQ:EMAT) was down, falling 13% to $3.52. Evolution Metals & Technologies entered into a securities purchase agreement with Yorkville to issue and sell $30,927,835 of convertible debentures. CommoditiesIn commodity news, oil traded up 0.1% to $101.99 while gold traded down 0.1% at $4,394.30.Silver traded up 1.2% to $66.855 on Thursday, while copper rose 0.1% to $6.6695.Euro zoneEuropean shares were lower today. The eurozone’s STOXX 600 declined 1.1%, while Spain’s IBEX 35 Index fell 1.6%, London’s FTSE 100 fell 0.3%, Germany’s DAX dipped 1.6%, while France’s CAC 40 tumbled 1.5%.Asia Pacific MarketsAsian markets closed mostly higher on Friday, with Japan’s Nikkei 225 gaining 1.38%, Hong Kong’s Hang Seng index rising 0.60%, China’s Shanghai Composite rising 0.94% and India’s BSE Sensex falling 0.03%.Economics U.S. industrial production came in unchanged in August following a 0.2% gain in July, and down from market estimates of a 0.3% rise. Manufacturing output fell 0.3% in August, compared to market estimates of a 0.3% rise. The CB Leading Index declined 0.1% month-over-month in August. Photo via Shutterstock