NEW YORK, May 31 (Reuters) - Overseas shares traded in the United States slid on Tuesday as a drop in the euro dampened sentiment for European ADRs and shares of carmakers plunged on South African collusion talks.
The Bank of New York's index of leading ADRs was off 1.1 percent at a time when the 30-share Dow Jones industrial average, was down 0.3 percent at 10,508.19
The euro hit seven-month lows on Tuesday after France rejected the European Union constitution and polls showed Dutch voters might do the same. When local currencies, like the euro, fall against the dollar, investors typically shy away from dollar-denominated ADRs.
The Bank of New York's index of leading European ADRs fell 1.3 percent to 122.55.
Shares of major carmakers fell after South Africa's Competition Commission accused the country's auto manufacturers of colluding with importers and dealers to fix prices. Shares of Japan'sMotors and Germany's DaimlerChrysler , which were named by the commission, slid 2.4 percent to $19.71 and 0.6 percent to $40.36, respectively.
Among other European companies, shares of Anglo-Dutch consumer products group Unilever plunged 3.3 percent to $66.53 after analysts cut ratings on its London-traded stock and suggested the company had lost market share in the United States.
Shares of European low-cost airline Ryanair Holdings climbed 2.8 percent to $45.60 after the company said it was in talks to branch out into the mobile phone business.
French semiconductor group STMicroelectronics bucked the trend, gaining 1.4 percent to $15.59 after Smith Barney upgraded its Paris-traded stock to "buy."
Among Asian firms, Japanese copier and camera maker Canon slid 1.6 percent as investors cashed in on earlier gains.
The Bank of New York's index of leading Asian ADRs was off 0.4 percent at 107.21.
Receipts in the Bank of New York's index of leading Latin American ADRs edged down 0.2 percent to as heavily-weighted Mexican telecommunications firms slipped. Telefonos de Mexico was off 0.5 percent at $18.63 and America Movil dipped 0.5 percent to $57.40.