Wall St slips; Patni Computers zooms 10%

Fears of the Federal Reserve increasing interest rates early next week and disappointing earnings by several companies spooked Wall Street. The Dow Jones industrial average shed 60 points to 11,126. The Nasdaq dropped 29 points to 2062.

The Indian ADRs ended in a sea of red. Following a 7% surge on Monday, Patni Computers yesterday zoomed 9.5% to $14.51. Wipro dropped 3.5% to $12.04, and MTNL shed 2.7% to $6.05. Infosys, Satyam and HDFC Bank declined 2% each.