Wall Street end lower; Dow slips 37 points

Ben Barnanke doesn't disappoint and cuts rates by another half a percent but US markets close lower after Fed rally fizzles out.In the US markets, stocks declined on speculation that bond insurers Ambac Financial and MBIA will be downgraded by credit rating agencies erasing a rally spurred by the Fed's interest-rate cut.

Financial shares spent much of the day in negative territory after UBS lost $ 14 billion due to mortgage-related bets in the fourth quarter. But the sector turned positive after the Fed news and fueled the rally, with Bank of America and JP Morgan Chase leading the gainers.

A fourth quarter GDP report that showed growth of just 0.6% versus expectation of 1.2% growth. Separately, in a bit of encouraging news, the ADP employment report showed a rise higher than expectation.

The Dow slipped 37.47 points, or 0.30%, at 12,442.83. The Standard & Poor's 500 index plunged 6.49 points, or 0.48%, to 1,355.81, and the Nasdaq composite index dropped 9.06 points, or 0.38%, to 2,349.

A look at how the Indian ADRs performed: