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US mkts dip on rising crude prices; Dow down 206.5 pts
Published on Thu, May 08 at 08:17 , Updated at Thu, May 08 at 08:54
Source : CNBC-TV18
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US markets ended sharply down led by financials and spiraling crude prices. Financials stocks took a beating and among the top decliners were AIG, Citigroup and JP Morgan. The financial stocks declined on concerns that new disclosure requirements for investment banks will limit their profits. In economic news, existing-home sales fell just 1% between March and April. Non-farm productivity rose at a 2.2% annual rate in the first quarter. The Dow lost 206.48 points to close at 12,814. While the Nasdaq lost 45 points and shut at 2,438. The S&P 500 also lost 26 points and shut shop at 1,393. A look at how the Indian ADRs performed:
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