diff --git a/lib/lexer_block/paragraph.js b/lib/lexer_block/paragraph.js
index fb5d316..7d37dbc 100644
--- a/lib/lexer_block/paragraph.js
+++ b/lib/lexer_block/paragraph.js
@@ -39,7 +39,7 @@ module.exports = function paragraph(state, startLine/*, endLine*/) {
   while ((ref = state.lexer.inline.parse_reference(content, state.options, state.env))) {
     t = state.env.references;
     t[ref.label] = t[ref.label] || { title: ref.title, href: ref.href };
-    content = ref.remaining;
+    content = ref.remaining.trim();
   }
 
   if (content) {
diff --git a/lib/lexer_inline.js b/lib/lexer_inline.js
index d54d26c..435c75f 100644
--- a/lib/lexer_inline.js
+++ b/lib/lexer_inline.js
@@ -205,6 +205,7 @@ LexerInline.prototype.parse_reference = function (str, options) {
     pos = state.pos;
   } else {
     title = '';
+    pos = start;
   }
 
   // ensure that the end of the line is empty
diff --git a/lib/lexer_inline/links.js b/lib/lexer_inline/links.js
index 7735eb4..9b3fdae 100644
--- a/lib/lexer_inline/links.js
+++ b/lib/lexer_inline/links.js
@@ -77,7 +77,7 @@ function parseLinkDestination(state, pos) {
         state.pos = pos + 1;
         return href;
       }
-      if (code === 0x5C /* \ */) {
+      if (code === 0x5C /* \ */ && pos + 1 < max) {
         pos++;
         href += state.src[pos++];
         continue;
@@ -99,9 +99,9 @@ function parseLinkDestination(state, pos) {
     if (code === 0x20) { break; }
 
     // ascii control characters
-    if (code < 0x20 || code === 0x7F) { return null; }
+    if (code < 0x20 || code === 0x7F) { break; }
 
-    if (code === 0x5C /* \ */) {
+    if (code === 0x5C /* \ */ && pos + 1 < max) {
       pos++;
       href += state.src[pos++];
       continue;
@@ -109,14 +109,12 @@ function parseLinkDestination(state, pos) {
 
     if (code === 0x28 /* ( */) {
       level++;
-      if (level > 1) { return null; }
+      if (level > 1) { break; }
     }
 
     if (code === 0x29 /* ) */) {
       level--;
-      if (level < 0) {
-        break;
-      }
+      if (level < 0) { break; }
     }
 
     href += state.src[pos++];
@@ -152,7 +150,7 @@ function parseLinkTitle(state, pos) {
       state.pos = pos + 1;
       return title;
     }
-    if (code === 0x5C /* \ */) {
+    if (code === 0x5C /* \ */ && pos + 1 < max) {
       pos++;
       title += state.src[pos++];
       continue;
@@ -237,6 +235,7 @@ function links(state) {
       state.pos = labelStart - 1;
       return false;
     }
+    pos++;
   } else {
     //
     // Link reference
@@ -252,7 +251,11 @@ function links(state) {
     if (pos < max && state.src.charCodeAt(pos) === 0x5B/* [ */) {
       start = pos + 1;
       pos = parseLinkLabel(state, pos);
-      label = state.src.slice(start, pos);
+      if (pos >= 0) {
+        label = state.src.slice(start, pos++);
+      } else {
+        pos = start - 1;
+      }
     }
 
     // covers label === '' and label === undefined
@@ -260,7 +263,10 @@ function links(state) {
     if (!label) { label = state.src.slice(labelStart, labelEnd); }
 
     ref = state.env.references[normalizeReference(label)];
-    if (!ref) { return false; }
+    if (!ref) {
+      state.pos = labelStart - 1;
+      return false;
+    }
     href = ref.href;
     title = ref.title;
   }
@@ -284,7 +290,7 @@ function links(state) {
     state.push({ type: 'link_close' });
   }
 
-  state.pos = pos + 1;
+  state.pos = pos;
   state.posMax = max;
   return true;
 }
diff --git a/lib/renderer.js b/lib/renderer.js
index ca06587..dc11ce0 100644
--- a/lib/renderer.js
+++ b/lib/renderer.js
@@ -111,7 +111,7 @@ rules.link_close = function (/*tokens, idx, options*/) {
 rules.image = function (tokens, idx, options) {
   var src = ' src="' + escapeHtmlKeepEntities(tokens[idx].src) + '"';
   var title = tokens[idx].title ? (' title="' + escapeHtmlKeepEntities(tokens[idx].title) + '"') : '';
-  var alt = tokens[idx].alt ? (' alt="' + escapeHtmlKeepEntities(tokens[idx].alt) + '"') : '';
+  var alt = ' alt="' + (tokens[idx].alt ? escapeHtmlKeepEntities(tokens[idx].alt) : '') + '"';
   var suffix = options.xhtml ? ' /' : '';
   return '<img' + src + alt + title + suffix + '>';
 };