ManagementUS markets drop on energy shares
US markets dropped on Thursday as energy stoks dipped on declining oil prices. Wal-Mart"s forecast about consumer spending also impacted negatively.
- Asian markets mixed in morning trades - Markets ignore IIP data, end in red - IT stocks in demand as acquistion clicks - Shree Renuka at new 52-wk high on overseas acquisition - Sensex ends down 128pts - Markets slip after brief recovery
The Dow Jones fell 94 points (1%) to 10,197. The S&P 500 dropped 11 points (1%) to 1,087. The Nasdaq lost 18 points to 2,149.
Indian ADRs were in the red. ICICI Bank plunged 5% to $38.55. HDFC Bank shed 4.5% to $128.46.
MTNL and Dr Reddy"s dropped 3.5% each to $3.21 and $23.71, respectively. Sterlite was down 3% at $17.65.
Mahindra Satyam and Genpact slipped 1% each.