The US markets closed mostly up on Wednesday, after erasing early losses that followed a selloff in Asian and European equities. The mornings selling were on worries about China’s slowdown and Russia-Ukraine tensions. A much larger than-expected decline in Chinese exports rocked markets at the start of the week and continued to inspire worries on Wednesday. Leaders of the Group of Seven nations warned Russia on not to annex Ukraine’s Crimean region. The US economic calendar was also empty, thereby leaving investors to focus on the overseas news - as well as look ahead to Thursday’s reading on retail sales and next week’s Federal Reserve meeting.
The Nasdaq Composite was up by 16.14 points or 0.37 percent, to 4,323.33, the S&P 500 added 0.57 points or 0.03 percent, to close at 1,868.20 while the Dow Jones Industrial Average lost 11.17 points or 0.07 percent, to 16,340.08.
The Indian ADRs closed mixed on Wednesday; ICICI Bank was up 0.59%, Dr. Reddy’s Lab was up 0.40% and HDFC Bank was up 0.36%. On the other hand, Infosys was down by 3.62% and Tata Motors was down by 0.48%.