Business Standard

Dow drops 250pts, Infosys down 3%

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BS Reporter Mumbai
US stocks tumbled on Friday as data on the first monthly drop in payrolls in four years stoked fears that the economy was headed into recession. The report also cemented expectations that the Fed would cut rates on September 18.

While the Dow dropped 250 points (1.87%)to 13,113, the Nasdaq Composite declined 49 points (1.86%) to 2,566.

Indian ADRs, too, slipped on Friday. Infosys was down nearly 3% at $47.72. Wipro, Satyam, Tata Motors, ICICI Bank and HDFC Bank also dclined.

 

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First Published: Sep 08 2007 | 11:51 AM IST

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