ADRs End Lower; Credit Suisse, Banco Santander Trade Actively

By Denny Jacob

International stocks trading in New York closed lower on Wednesday.

The S&P/BNY Mellon index of American depositary receipts slipped 2.9% to 141.70. The European index lost 3.2% to 137.68. The Asian index declined 2.6% to 163.90. The Latin American index retreated 2.3% to 176.81, while the emerging-markets index declined 2.5% to 272.62.

Credit Suisse Group AG was among those whose ADRs traded actively.

The Swiss bank dropped 14% on concerns that Credit Suisse could come under the control of regulators. European Central Bank officials contacted lenders it supervises Wednesday to ask about their financial exposure to Credit Suisse, according to The Wall Street Journal.

Spain's Banco Santander SA tumbled 5.8% as European banking stocks fell again Wednesday, as investors continued to digest the implications for the sector from the collapse of Silicon Valley Bank ahead of the ECB's meeting on Thursday.

Write to Denny Jacob at denny.jacob@wsj.com

(END) Dow Jones Newswires

March 15, 2023 18:22 ET (22:22 GMT)

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