ADRs End Lower; Credit Suisse, Banco Santander Trade Actively
March 15 2023 - 6:37PM
Dow Jones News
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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