The US markets suffered sharp plunge on Monday and Dow posted its biggest decline in three months, reacting to the last Friday's disappointing jobs report that said non-farm payroll employment edged up by just 74,000 jobs in December against an estimates for an increase of about 200,000 jobs. Tuesday's retail sales are one of the key pieces of data traders are watching after Friday's December jobs report. Traders also seemed wary of earnings that could lift the sentiments again, with financials expected to report the biggest profit increases. Selling pressure was also generated by remarks from Atlanta Federal Reserve President Dennis Lockhart, who said he would support a continued reduction in stimulus. Meanwhile, the December Treasury budget statement showed a surplus of $53.2 billion.
The Dow Jones Industrial Average slumped by 179.11 points or 1.1 percent to 16,257.94, the Nasdaq plunged by 61.36 points or 1.5 percent to 4,113.30 and the S&P 500 lost 23.17 points or 1.3 percent to 1,819.20.
Indian ADRs made a mixed closing on Monday, HDFC Bank was up by 0.36%, ICICI Bank was up by 0.41%, Tata Motors was up by 0.24% and Wipro was up by 0.05%. On the other hand Infosys was down by 0.09%.