ADR Report-ADRs down sharply on recession fears (at Reuters)

By Ryan Vlastelica NEW YORK, Oct 10 (Reuters) - Overseas shares traded in the United States were hit hard on Friday as growing uncertainty about the global economy and far-reaching effects of the credit crisis compelled investors to build up their cash positions. The Bank of New York Mellon's index of leading American Depositary Receipts (ADRs) .BKADR lost 6.4 percent while the Dow Jones Industrial Average .DJI fell 4.1 percent. Markets were volatile despite such recent moves as a global coordinated interest rate cut, individual liquidity injections and the passage of a... [read full story]