THE world’s largest computer-chip maker, Intel, last night said third-quarter profit fell 35% amid price cuts and market share losses.

Stocks dropped for the second straight session in the United States today with the Dow Jones industrial average falling to its worst close since March 9. Global markets also sold off as inflation fears worsened.

IBM said today that it would triple its investments in India to $6bn ($4.6bn) in the next three years, as the South Asian country becomes a cornerstone in the global network of the world’s largest computer services company.

IBM, the world’s biggest computer maker, said it won one of its biggest server-computer contracts this year by charging less than Hewlett-Packard Co.