Investors went on a selling spree on Tuesday (January 15) amidst growing concerns that the consumer spending will slip further and thereby contribute to an economic downturn.
The Commerce Department said that the retail sales had fallen by 0.4% in December showing evidence that consumer spending has received a serious dent.
The Dow fell 277.04 points, or 2.17%, to 12,501.11 and the NASDAQ composite index lost 60.71 points, or 2.45%, closing at 2,417.59.
Indian ADRs also nosedived on the bleak report with all of them ending in the negative.
Losers
| Company | Price (USD) | % Change (-ve) |
| Infosys | 39.09 | 3.12 |
| ICICI Bank | 66.03 | 7.51 |
| Sterlite | 24.00 | 8.33 |
| Tata Motors | 18.48 | 7.00 |
| Satyam | 22.74 | 4.85 |
| HDFC Bank | 130.29 | 7.15 |
| Wipro | 12.87 | 4.81 |
| Dr Reddy`s | 16.81 | 3.17 |
| MTNL | 10.00 | 0.03 |
| VSNL | 10.48 | 3.45 |
| Patni | 15.30 | 4.49 |
No comments:
Post a Comment