US markets fell on worry that Bank of America may renegotiate its deal to buy Countrywide, while record oil prices above $ 120 a barrel increased worry about consumer spending.

Microsoft's decision to abandon its $ 50 billion offer to buy Yahoo added to gloom, causing the market to break a two-day winning streak.

In economic news, report from The Institute for Supply Management, that showed US services sector unexpectedly grew in April, but the market didn't see that as a positive sign.

The Dow shed 89 points to close at 12,970. While the Nasdaq lost 13 points and shut at 2,464. The S&P 500 also lost 6 points and shut shop at 1,407.

A look at how the Indian ADRs performed:

Name Infosys Sify Rediff.com India Satyam Wipro ICICI Bank HDFC Bank MTNL Tata Comm Dr Reddy's Lab Tata Motors Patni Computer Sterlite Ind

Symbol INFY SIFY REDF SAY WIT IBN HDB MTE TCL RDY TTM PTI SLT

Price 44.36 5.09 8.99 26.91 13.4 46.23 116.83 5.61 24.20 15.66 16.84 12.91 20.51

Change -0.58 0.01 -0.21 -0.27 -0.17 -0.67 -0.86 -0.15 -1.30 -0.01 -0.31 -0.61 -0.12

Change% -1.29% 0.20% -2.28% -0.99% -1.25% -1.43% -0.73% -2.60% -5.10% -0.06% -1.81% -4.51% -0.58%

Volume 1,380,159 87,821 118,653 815,274 382,702 1,382,358 304,698 138,863 72,153 81,768 747,268 110,666 532,789

High 44.88 5.18 9.26 27.18 13.61 46.84 118.15 5.80 24.85 15.72 17.10 13.46 20.89

Low 44.14 4.97 8.80 26.61 13.33 45.91 115.76 5.52 24.20 15.52 16.72 12.75 20.44