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US market crashes on rate hike

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Our Web Bureau Mumbai
Following a quarter-percentage point hike by the Federal Reserve, the US indices tumbled for the second consecutive session on Tuesday. While the Dow Jones crashed by a whopping 95 points to 10,470, the Nasdaq lost 18 points to close at 1,989.

Indian ADRs, too, joined the downward trend and ended with steep losses. HDFC Bank dropped 3.66% to $41.11. Tata Motors and MTNL shed over 3% each to $9.90 and $6.55, respectively. ICICI Bank and VSNL declined nearly 3% each to $20.80 and $8.64, respectively.

Infosys, Satyam and Wipro were down a per cent each at $75.51, $22.60 and $20.65, respectively. Dr. Reddy's closed down a tad at $16.87.

 
 

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First Published: Mar 23 2005 | 9:04 AM IST

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