Dow had a free fall and so did Infosys, Wipro, Satyam, Tata Motors, ICICI Bank, and HDFC Bank
Prithvi Shastri
Sep. 8, 2007

A recession in America will wipe out Indian and Chinese outsourcing industry plunging the Asian giant economies into deep depression.

According to media reports, US stocks tumbled on Friday as data on the first monthly drop in payrolls in four years stoked fears that the economy was headed into recession. The report also cemented expectations that the Fed would cut rates on September 18.

While the Dow dropped 250 points (1.87%)to 13,113, the Nasdaq Composite declined 49 points (1.86%) to 2,566.

Indian ADRs, too, slipped on Friday. Infosys was down nearly 3% at $47.72. Wipro, Satyam, Tata Motors, ICICI Bank and HDFC Bank also declined.

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Suraj Chauhan
Like her husband, Hillary has already accepted money from the American oligarchs – the rich who want illegal immigration, H1B and outsourcing to continue.
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Dow had a free fall and so did Infosys, Wipro, Satyam, Tata Motors, ICICI Bank, and HDFC Bank
Prithvi Shastri
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Media Release
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India announces significant relaxation in the definition of indirect foreign shareholding
Media Release
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Media Release
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What happened in America is a total shame. American politicians from both sides of isle lost their senses and supported amnesty, H1B and outsourcing that will haunt them for the rest of their political career.
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Marketing shake up in Yahoo - a net gain for Indian outsourcing companies
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German software firm SAP has opened a new facility in Bangalore and employ more than 2000 new software engineers
Media Release
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