Wall St tumbles after Fed's modest rate cut

US stocks tumbled yesterday following Federal Reserve's modest rate cut. The Fed cut ke rate by 25 bps yesterday. The Dow Jones industrial average plunged 294 points to 13,433. The Nasdaq tumbled 67 points to 2652.

Indian ADRs also ended in red. Satyam slumped over 7% to $26.29. Wipro and VSNL plunged over 5% each to $14.83 and $31.22, respectively. Sterlite, Infosys, Patni Computers, ICICI Bank and HDFC Bank dropped 2-4% each to $26.68, $43.74, $17.62, $63.09 and $135.35, respectively.