Stocks tumbled on Wall Street Friday, leaving the S&P 500 with its biggest one-day loss in almost seven weeks, as worries deepen about a surge in interest rates and the U.S.
The Dow Jones Industrial Average slumped 2.8 per cent, its biggest drop in 18 months, after briefly skidding more than 1,000 points.
A day earlier, Wall Street seemed set for healthy gains for the week after American Airlines, Tesla and other big companies reported strong profits or better forecasts for future earnings than analysts expected.
ICICI Bank’s net profit in March quarter jumped 59 per cent to Rs 7,018.71 crore compared with Rs 4,402 crore during the same period last year.