Wall St slips on oil spike; ADRs drop

The US indices slipped on Wednesday as crude oil for May delivery spiked $1.15 to $64.08 per barrel amid rising tension with Iran. The Dow Jones industrial average dropped 97 points to 12,300. The Nasdaq shed 20 points to 2417.

Indian ADRs ended in negative zone. Tata Motors tumbled 3.3% to $16.92. Infosys, Wipro, HDFC Bank and VSNL were down 1-2% each to $50.46, $16.14, $67.37 and $18.43, respectively. Dr.Reddy's, however, surged 1.6% to $15.93.