Market Mixed in Volatile Trade, Takeover Activity Jumps

Markets closed mixed in a volatile day of trade, with a pending deal worth nearly $100 billion in the pharmaceutical sector: Pfizer shares jumped after it renewed takeover talks with AstraZeneca. Deal activity also boosted stocks such as GE, while Newmont Mining was lower after calling off its bid for Barrick Gold. Tensions in Ukraine continue, with the U.S. and EU imposing further sanctions on Russian and Ukrainian officials. Existing home sales had their first gain in nine months in March.