US equity markets fell sharply amid volatile end-of-month and quarter rebalancing activity and as inflation concerns continued to weigh on sentiment - Dow dropped -547-points or -1.59% . Boeing Co fell -2.41% despite a broker (Bernstein) upgrade, while Goldman Sachs Group Inc fell -1.78% and Home Depot Inc -2.57%. The broader S&P500 lost -1.19%, with Industrials (down -2.11%) leading all eleven primary sectors lower overnight. Eight primary sectors recorded declines of over >1%. The Nasdaq -0.44%. The small capitalisation Russell 2000 fell -0.94%. In merger and acquisition (M&A) news, Merck & Co Inc (up +0.03%) struck a deal to buy drugmaker Acceleron Pharma (down -1.86% at US$172.10) for US$180 per share in cash or US$11.5B. It had been reported earlier this month that Acceleron was close to a sale agreement, and reports earlier this week had named Merck as the suitor.
