Wall Street declines; Dow down 120 points

Wall Street dropped the most this week on the back of oracle's weak sales outlook. Concerns about financial companies also continued. The GDP numbers and the jobless claims reports were in line with estimates.

Oracle tumbled the most since November after reporting disappointing software sales. Fellow software maker, Microsoft also followed suit. Financial stocks declined once again as the prognosis for the sector became increasingly bleak.

In economic news, the US economic growth was at 0.6% on fourth-quarter GDP. A separate report showed jobless claims fell by 9,000 last week. Among other news of interest to Wall Street was the Fed's term lending facility auction that would allow brokerages to exchange mortgage assets for government securities.

The Dow plunged 120.40 points, or 0.97%, to 12,302.46. The Standard & Poor's 500 index slipped 15.37 points, or 1.15%, to 1,325.76, and the Nasdaq composite index was down 43.53 points, or 1.87%, to 2,280.83.

A look at how the Indian ADRs performed: