Wall St slips; ADRs drop

The US stocks slipped on Tuesday after a weak consumer  confidence report fueled concerns the housing slowdown may spread to the broader economy and hurt corporate profits.

The Dow Jones industrial average dropped 72 points to 12,397. The Nasdaq slipped 18 points to 2437.

Indian ADRs ended on a weak note. ICICI Bank dropped 3% to $39.55. Infosys, Satyam, Wipro, HDFC Bank and Tata Motors slipped 1-2% each to $51.66, $22.92, $16.37, $68.24 and $17.50, respectively.