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Wall Street slips; Dow down 104 points
Published on Wed, Apr 23 at 08:20 , Updated at Wed, Apr 23 at 09:43
Source : moneycontrol.com
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US markets posted their biggest loss in more than a week. Record oil prices and disappointing earnings from technology, health-care and consumer companies rekindled concerns. After the latest batch of earnings, traders punished companies that reported disappointing earnings. Profit booking was seen in Du Pont and Mac Donald’s. In economic news, existing-home sales fell 2% to an annual rate of 4.93 million, meeting expectations. The inventory of homes for sale jumped to a 9.9 months' supply. The median national home price dropped 7.7% from a year earlier. The Dow plunged 104.79 points, or 0.82%, to 12,720.23. The Standard & Poor's 500 index slipped 12.23 points, or 0.88%, to 1,375.94, and the Nasdaq composite index was down 31.10 points, or 1.29%, to 2,376.94. A look at how the Indian ADRs performed:
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