US stock indices tumbled on Wednesday after a crack in oil prices sent energy and bank shares sharply lower.
US stock indices tumbled on Wednesday after a crack in oil prices sent energy and bank shares sharply lower.
Dow Jones Industrial Average declined by 188.88 points, or 1.1%, to end at 16,431.78.
The S&P 500 index lost 24.23 points, or 1.3%, to close at 1,921.27.
Both the benchmarks registered their worst fall since Feb. 11.
Nearly all of the S&P 500’s 10 sectors ended in negative territory, led by losses in Energy (down 3.2%), Materials (off 2.4%) and Financials (down 1.8%).
Only the Utility sector ended in positive territory, up less than 0.1%.
Meanwhile, the Nasdaq Composite index slumped by 67.02 points, or 1.5%, to 4,503.58.
Crude oil prices sank after Saudi oil minister's comments dented optimism built by a proposal between Russia and Saudi Arabia to freeze production.
Separately, a popular gauge of US consumer confidence fell to a seven-month low in February.
Investors will now look forward to important readings on inflation, durable-goods orders and a second estimate of 4Q GDP, due later this week.
| Company | Price in USD | % Change |
| Tata Motors | 23.04 | -3.84% |
| Infosys | 16.65 | -1.42% |
| Wipro | 11.4 | -1.30% |
| Dr Reddy's | 44.53 | -1.76% |
| HDFC Bank | 52.78 | -4.57% |
| ICICI Bank | 5.44 | -4.90% |
| Sify | 1.02 | 0.99% |
| Rediff | 0.49 | 4.01% |
| Vedanta | 4.13 | -4.62% |
| MakeMyTrip | 16.22 | -4.53% |
| WNS | 27.63 | -1.64% |
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