Credit concerns hit Wall St; ADRs drop

Late selling on the Wall Street dragged US indices amid rising credit concerns in the housing sector. The Dow Jones industrial average plunged 146 points to 13,212. The Nasdaq tumbled 37 points to 2546.

Indian ADRs ended mostly in red. ICICI Bank slumped 3.7% to $44.32, and Tata Motors shed 3.3% to $17.15, and Wipro dropped 3% to $14.60. Sterlite, Infosys, Satyam, HDFC Bank, MTNL and Dr.Reddy's were down 1-2% each.