Wall St slumps on recession fears; ADRs drop

The US stocks tumbled sharply yesterday on recession fears. The Dow Jones industrial average plunged 370 points to 12,265. The Nasdaq dropped 73 points to 2,310.

Indian ADRs, too, ended with significant losses. Sterlite, Infosys, Satyam, Wipro, ICICI Bank, HDFC Bank, MTNL, VSNL and Tata Motors tumbled 4-7% each.