Wall St slips on fears of slowing consumer spending

In the US markets, stocks closed lower on Friday after a profit warning from J.C. Penney renewed fears about slower consumer spending.

Financials and techs caved in after earlier attempts to rally. Persistent worries about credit-related problems continued to throttle financial stocks. The Dow Jones industrial average and S&P 500 finished down more than 1 percent for the week.

The Dow Jones industrial average plunged 86.06 points, or 0.70%, to 12,216.40. The Standard & Poor's 500 index was down 10.54 points, or 0.80%, to 1,315.22, and the Nasdaq composite index declined 19.65 points, or 0.86%, to 2,261.18.

A look at how the Indian ADRs performed: