US stocks slid sharply Thursday, with the Dow Jones Industrial Average sinking two per cent, as disappointing economic data from China and Europe followed the Federal Reserve's slashing its growth forecast for the United States.
Tech stocks fell broadly, with Microsoft's 2.6 per cent loss helping pull the Nasdaq 2.4 per cent lower. Growth-related plays like mining stocks and oil took the biggest falls, with Alcoa sinking 4.3 per cent, Occidental Petroleum 6.1 per cent and Chevron 3.5 per cent.
At the close the Dow Jones Industrial Average was down 250.82 points, or 1.96 per cent, at 12,573.57.
The Reserve Bank of India has desisted so far from announcing an open market operation th
Nifty falls below 6,100; DLF, L&T, BPCL down
The Nifty extended intraday losses and slipped below the 6,100 mark on Wednesday, mirroring losses in other global markets ahead of Ben Bernanke's testimony before the US Congress. The Federal Reserv