Dow recovers, Indian ADRs hammered again

Late buying in the US markets helped Dow rebound into the positive zone while the Nasdaq trimmed losses. The Dow Jones industrial average ended up eight points at 10,939. The Nasdaq was down six points at 2,145.

However, the Indian ADRs continued their south-bound journey for yet another day. HDFC Bank plunged over 6% to $47.20. Patni Computers and Dr.Reddy's dropped over 5% each to $14.37 and $25.81, respectively.

Tata Motors, Infosys, Satyam, Wipro, ICICI Bank, MTNL and VSNL were down 2-4% each.

The crude oil futures for July delivery slipped 47 cents to settle at $70.35 per barrel on the NYMEX.