US markets finished lower on Wednesday (Apr. 09, 2008) after oil prices touched new record high and a poor profit forecast from United Parcel Service renews concern about the economy.
Oil price set another record by touching USD 112 a barrel for the first time in the futures market on Wednesday.
The Dow Jones industrial average fell 49.18, or 0.39%, to 12,527.26. The Nasdaq declined 26.64, or 1.13%, to 2,322.12.
Indian ADRs also felt the pinch of rising oil prices and concern about the US economy. Out of the total ADRs only ICICI Bank, HDFC Bank and Patni Computers advanced.
|Company||USD (Price)||% Chng|
|Sterlite Industries India||19.41||0.72|