Wall St slumps; ADRs tumble

The Wall Street tumbled on Monday on fears of a possible stagflation - as credit worries continued amid rising prices. The Dow Jones industrial average slumped 173 points to 13,167. The Nasdaq plunged 61 points to 2574.

Indian ADRs ended in a sea of red. Sterlite and VSNL nosedived over 10% each to $23.64 and $29.22, respectively. HDFC Bank plunged 8.4% to $120.51, and ICICI Bank slumped 8% to $56.90. Infosys, Satyam, Wipro, Patni Computers, MTNL and Tata Motors were down 3-6% each.