US mkts slide sharply

US markets witnessed sharp correction yesterday following steep fall in blue chip stocks and a slump in treasury prices, which led to a rise in yields on new inflation jitters. As a result, the Dow Jones crashed by 107 points to 10,806, and the Nasdaq lost 12 points to close at 2,061.

Indian ADRs, too, fared badly on strong selling pressure. Infosys and Satyam shed slightly over 2% each to $74.75 and $23.35, respectively. Wipro was down a per cent at $21.78.

HDFC Bank dipped 1.62% to $48.65, and ICICI Bank slipped a per cent to $20.65. Tata Motors and VSNL also ended weak at $10.78 and $9.91, respectively. Dr. Reddy's, however, rose nearly 2% to $17.65, while MTNL also ended in the green at $7.23.