US mkts decline as AIG posts huge loss; Dow down 121-pt

In the US markets, stocks fell sending the markets to its first weekly drop in a month as AIG reported huge losses and going to raise money, crude oil surged to a new high.

In stock specific action, American International Group Inc (AIG), the world's largest insurer, slumped the most since February as it reported poor quarterly numbers. The company also plans to raise more than USD 12 billion to help bolster its financial health.

Exxon Mobil led energy shares lower, even as crude oil topped USD 126 a barrel for the first time.

In economic news, the March trade deficit totalled USD 58.2 billion, down from the revised USD 61.7 billion deficit reported for February.

The Dow Jones ended 120.90 points lower at 12745.88 and the Nasdaq shut shop at 2445.52 down 5.72 points. The Standard & Poor's 500 Index drop 9.40 points to close at 1,388.28.

A look at how the Indian ADRs performed: