Wall St tumbles; Indian ADRs slide

The Wall Street which opened yesyterday following an extended holiday weekend tumbled on worries about consumer spending. The Dow Jones industrial average slumped 184 points to 11,094. The Nasdaq plunged 46 points to 2,165.

The Indian ADRs, barring Patni Computers (up 1.3% at $15.72) witnessed a free fall. VSNL tumbled 9.6% to $17.09. Tata Motors, ICICI Bank, HDFC Bank, Dr.Reddy's and MTNL dropped 4-7% each. Wipro, Satyam and Infosys were down around 2-3% each.

The crude oil futures for July delivery rose 66 cents to settle at $72.03 per barrel on the NYMEX.