Business Standard

Dow drops 195pts, ICICI Bank down 4%

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BS Reporter Mumbai
US stocks tumbled on Friday as an emergency rescue of Bear Stearns orchestrated by the Federal Reserve revived fears about a deepening global credit crunch.

While the Dow average dropped 195 points (1.60%) to 11,951, the Nasdaq Composite Index slipped 51 points (2.26%) to 2,212.

Indian ADRs, too, finished with losses yesterday. ICICI Bank declined 4.5% to $40.34. Genpact dropped over 7% to $12.80. Infosys, Satyam and HDFC Bank also declined.

 

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First Published: Mar 15 2008 | 12:38 PM IST

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