Nasdaq sheds 44pts; ADRs slide

The US indices ended lower for yet another day. The Dow Jones industrial average slipped 55 points to 12,988. The Nasdaq dropped 44 points to 2584.

Indian ADRs, too, continued to slide. HDFC Bank plunged 8% to $110.33. Genpact, Sterlite, Infosys, Patni Computers, ICICI Bank and MTNL tumbled 3-5% each to $14.06, $22.41, $40.05, $15.24, $57.50 and $7.40, respectively. Satyam, VSNL and Tata Motors declined around 2% each to $25.65, $22.63 and $16.75, respectively.