Dow below 10K, down 370pts on recession fears

Panic selling continued on the Wall Street for yet another day as investors worried about the credit market and the economy going into recession.

The Dow Industrial Average index which tumbled 800 points in intra-day trades, finally settled with a loss of 370 points below the 10,000-mark at 9,956. The Nasdaq plunged 84 points to 1,862.

The Indian ADRs, too, ended with steep losses. Sterlite slumped over 17% to $6.33. Genpact and HDFC Bank plunged over 10% each to $8.61 and $75, respectively. Infosys, Satyam, Patni Computers, ICICI Bank, Tata Motors and Dr.Reddy's were down 6-9% each.