Recession fears continue to haunt Wall St

The US indices ended lower on Monday led by financial stocks on fears of more credit losses and concerns that the US economy may already be in recession. The Dow Jones industrial average slumped 154 points to 11,740. The Nasdaq dropped 43 points to 2,169.

Indian ADRs, too, ended mostly lower. ICICI Bank plunged 4.5% to $41.23. Infosys, Genpact, Satyam, Wipro, HDFC Bank and Dr.Reddy's dropped 2-4% each to $34.80, $12.66, $22.67, $10.28, $93.31 and $13.74, respectively. Patni Computers, however, gained 1% at $10.74.