Wall St slips, Indian ADRs in red

Wall Street rallied slipped yesterday as investors feared that the Federal Reserve will keep raising interest rates as economic growth shows signs of slowing. The Dow Jones industrial average dropped 60 points to 11,019. The Nasdaq slipped 18 points to 2123.

Indian ADRs, barring, Satyam all ended in red. VSNL plunged over 3% to $16.15. Tata Motors dropped 2.6% to $16.89, and ICICI Bank dipped over 2% to $24.24. MTNL, HDFC Bank and Dr.Reddy's were the other major losers.