Wall Street slips; Dow down 143 points

Wall Street fell after opening higher on the back of a drop in the Philadelphia Manufacturing Index suggesting a contraction in manufacturing in the region. Jobless claims for the week fell to 3 lakh 49 thousand. The results were in-step with the consensus forecast. Notably, jobless claims continue to be below levels typically associated with a recession.

The decline was led by energy and industrial stocks. A pullback from $ 100-a-barrel, oil clipped energy stocks and weak economic reports added to investor fears that a recession is looming. The market's early gains were sparked by technology companies on hp's better than expected results.

The Dow slipped 142.96 points, or 1.15%, to 12,284.30. The Standard & Poor's 500 index dropped 17.50 points, or 1.29%, to 1,342.53, while the Nasdaq composite index plunged 27.32 points, or 1.17%, to 2,299.78.

A look at how the Indian ADRs performed: