US markets slip; MTNL plunges 6%

US markets slipped on Friday as rating agencies downgraded Spain and reignited worries about the euro-zone.

The Dow dropped 122 points (1%) to 10,136. The Nasdaq shed 21 points (1%) at 2,257. The S&P 500 was down 14 points (1.3%) at 1,089.

Indian ADRs were in red. MTNL slumped 6% to $2.39. Patni Computers shed 2.5% at $26.31. Wipro slipped 2.5%.

Satyam and Tata Motors dropped 2% each to $5.17 and $16.68, respectively.

HDFC Bank and ICICI Bank were down 1% each.

However, Genpact added 3% at $16.89.