Inflation woe hits US markets

Fear of inflation rise spooked the US markets yesterday as the Dow Jones dropped 115 points to 10,012, while the Nasdaq fell 19 points to close at 1,914.

Indian ADRs, too, joined the losers list on Wednesday. Wipro lost nearly 2% to $17.68, while Infosys and Satyam ended down a per cent each at $59.50 and $21.50, respectively.

HDFC Bank tumbled 3.26% to $41.79, and ICICI Bank shed 3.65% to $18.74. VSNL also ended lower at $8.75. MTNL, however, gained 1.59% to $6.40. Dr. Reddy's and Tata Motors finished with steady gains at $16.50 and $9.78, respectively.