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The Dow Jones Industrial Average fell 280.7 points, or 0.8%, to 34,641.18, the S&P 500 lost 57.52 points, or 1.26%, to 4,525.12 and the Nasdaq Composite dropped 328.39 points, or 2.26%, to 14,204.17.

Musk says the SEC is harassing him in a bad-faith effort to punish him for criticizing the government, and he is fighting to nullify the deal.

The amount is higher than the average market expectation for state government borrowings. "We were expecting about ₹15,000-20,000 crore less than what was stated," said a market dealer.

Asian share markets slipped on Wednesday as investors faced up to the possibility of aggressive monetary tightening by the U.S. Federal Reserve to fight inflation, while focus was also on new Western sanctions against Russia over its invasion of Ukraine.

Tata Steel said its consolidated steel output stood at 7.57 million tonnes for the quarter ended March 31, 2022, registering a year-on-year fall of about 3 per cent.

Mukesh Ambani, promoter of India’s most valued company Reliance Industries, is the richest Asian, followed closely by Gautam Adani, promoter of Adani Group, according to the latest billionaire list released by Forbes. Compared to Ambani’s total net worth at $90.

The biggest fear of analysts is whether the regulator will ask for a holding company structure given the number of large subsidiaries that are being transferred to the bank. “We don’t know what view the regulator takes on banks holding large stakes in insurance companies.

The fund has been making secured credit investments in India focused on mid-market businesses. The key focus is on companies with strong promoter pedigree, corporate governance and robust financial performance.

“Look at the long term picture. As long as the picture is good, do not get too worried by the short term. If there is a correction at all, it is an opportunity to invest is what we would look at. The current resilience gives us confidence that if we can manage in this turbulent time, then once things ebbs, we will emerge much stronger.”

IIFL Finance had raised $400 million through its maiden overseas bonds in February 2020 at an issue price of $998.75 per bond to fund its business growth, a release said.