Wall St slips; Tata Motors ADR drops 7%

Wall Street ended lower yesterday on selling in banking stocks. The Dow Jones industrial average dropped 110 points to 12,423. The Nasdaq shed 17 points at 2,324.

Indian ADRs ended in a sea of red. Tata Motors plunged nearly 7% to $16.18. ICICI Bank dropped 5.4% to $40.69. Genpatc, Sterlite, Satyam, Wipro, Patni Computers, HDFC Bank, MTNL and Dr.Reddy's slipped 1-4% each. Tata Communications, however, moved up nearly 2% to $28.