US markets tumble, HDFC Bank drops 3%

Soaring global oil prices, profit warning by GM and rising bond prices sent the US markets in a tizzy on Wednesday. While Dow Jones slumped 112 points to 10,633, the Nasdaq dropped 19 points to close at 2,016.

Indian floats fell sharply yesterday. Wipro dropped nearly 2% to $20.83 and Satyam lost 2% to $22.58. Infosys, however, added 1.42% to $75.71.

HDFC Bank plunged 3.3% to $44.87. While MTNL shed 2.23% to $7, VSNL slipped nearly 2% to $9.14. Dr. Reddy's, however, was up a tad at $17,23, while ICICI Bank and Tata Motors remained unchanged at $20.77 and $10.51, respectively.