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MUMBAI: The stock markets in the US fell on Wednesday due to drop in financial shares.

Analysts said that this drop was due to the fact that banks would take time to recover from the subprime crisis.

The Dow Jones Index ended down 109.74 points at 12,422.86. The Standard and Poor's 500 Index dropped 11.86 points to end at 1,341.13. The Nasdaq Composite Index slumped 16.69 points to close at 2,324.36.

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