Wall Street tumbles on housing concerns

The US stocks slumped on Thursday on signs of further weakness in the housing sector. The Dow Jones industrial average plunged 312 points at 13,473. The Nasdaq dropped 49 points to 2599. 

Indian ADRs, too, ended in a sea of red. Patni Computers slumped 5.5% to $23.90.

Infosys, Satyam, Wipro, ICICI Bank, HDFC Bank, MTNL, VSNL and Tata Motors shed 2-5% each to $50.90, $26.55, $14.95, $45.30, $85.89, $7.54, $22.32 and $17.73, respectively.