US stocks skidded today after a judge blocked the government's ban on deepwater drilling in the Gulf of Mexico and the White House said it would appeal, raising uncertainty about oil production.
The Dow Jones Industrial Average dropped 148.89 points (1.43 per cent) to 10,293.52 in closing trades.
The tech-rich Nasdaq index shed 27.29 points (1.19 per cent) at 2261.80 and the S&P 500 index, a broader measure of the markets, retreated 17.83 points (1.60 per cent) to a provisional 1095.37.
The market responded to a Louisiana judge ruling that blocked a six-month ban on deepwater drilling in the Gulf of Mexico ordered by President Barack Obama in response to the BP oil-spill disaster.
The White House immediately said it would appeal the judge's favourable ruling on the challenge filed by 32 oil companies.
The drilling freeze has raised investor concerns about its long-term impact on US oil production.
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