Wall St tumbles, Indian ADRs slide

The US stocks tumbled last night following Federal Reserve chairman Ben Bernake's warning on inflation. The Dow Jones industrial average plunged 199 points to 11,049. The Nasdaq slumped 50 points to 2,170.

The Indian ADRs witnessed a free fall. ICICI Bank plunged over 6% to $25.48, and HDFC Bank slipped 5.6% to $52.10. MTNL and VSNL tumbled over 5% each to $7.06 and $16.17, respectively. Tata Motors, Satyam, Infosys and Wipro were down 4-5% each.