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Wall Street slips; Dow down 89 points
Published on Tue, May 06 at 08:23 , Updated at Tue, May 06 at 09:16
Source : moneycontrol.com
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US markets fell on worry that Bank of America may renegotiate its deal to buy Countrywide, while record oil prices above $ 120 a barrel increased worry about consumer spending. Microsoft's decision to abandon its $ 50 billion offer to buy Yahoo added to gloom, causing the market to break a two-day winning streak. In economic news, report from The Institute for Supply Management, that showed US services sector unexpectedly grew in April, but the market didn't see that as a positive sign. The Dow shed 89 points to close at 12,970. While the Nasdaq lost 13 points and shut at 2,464. The S&P 500 also lost 6 points and shut shop at 1,407. A look at how the Indian ADRs performed:
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