International stocks trading in New York closed lower on Thursday.
The S&P/BNY Mellon index of American depositary receipts fell 3.4% to 143.95. The European index fell 2.9% to 136.08. The Asian index fell 4.2% to 171.10. The Latin American index fell 3.6% to 194.45. And the emerging-markets index fell 4.5% to 289.60.
Many Chinese companies’ ADRs declined Thursday, a day after the Securities and Exchange Commission expanded a list of companies facing potential delisting if they don’t allow American regulators to review their audits. Among the latest additions are Pinduoduo Inc., NIO Inc. and JD.com Inc., which were listed on a provisional basis and have 15 business days to challenge the provisional listing. Pinduoduo fell 11% to $40.28; NIO fell 15% to $15.38; and JD.com fell 6% to $59.39.
Ambev SA said Thursday its profit rose in the first quarter from a year earlier as sales of premium beers in Brazil continued to outpace other products. ADRs fell 6% to $2.71.
Novartis AG said it has suspended production of two of its oncology drugs at sites in Italy and New Jersey, U.S., as a result of potential quality issues in the manufacturing process. The halt affects manufacture of gastroenteropancreatic neuroendocrine tumor drug Lutathera and of prostate-cancer drug Pluvicto, Novartis said, adding that the action affects commercial and clinical-trial supply. The Swiss pharma major expects to resolve the issues and resume some supply within six weeks, pending confirmation via a continuing review, it said. ADRs fell 2.3% to $86.21.
(END) Dow Jones Newswires
May 05, 2022 17:01 ET (21:01 GMT)
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