Wall St slumps for 2nd day; ADRs tumble

The US indices plunged for the second straight day. The Dow Jones industrial average dropped 167 points to 12,861. The Nasdaq slipped 40 points to 2459.

Indian ADRs tumbled across the board. ICICI Bank crashed 6% to $39.44. VSNL plunged 5.4% to $18.87. Sterlite, Satyam and HDFC Bank dropped around 4% each to $14.33, $25.03 and $79.56, respectively. Infosys, Wipro, Patni Computers and Tata Motors were down 1-3% each.