By Denny Jacob

 

International stocks trading in New York closed lower on Friday.

The S&P/BNY Mellon index of American depositary receipts dropped 3.4% to 122.28. The European index retreated 3.9% to 113.71. The Asian index lost 2.4% to 147.90. The Latin American index declined 4.9% to 178.75, while the emerging-markets index tumbled 3% to 255.39.

Alibaba Group Holding Ltd. was among those whose ADRs traded actively.

The Chinese e-commerce company declined 2.4% as U.S. regulators on Thursday started inspecting China-based audits, kicking off a monthslong process that will determine whether companies from Alibaba to Yum China Holdings Inc. can remain listed on American stock exchanges.

Pharmaceutical company AstraZeneca PLC tumbled 3.1% after its Ultomiris drug was approved in the European Union for the treatment of adults with the rare disease generalized myasthenia gravis.

 

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

 

(END) Dow Jones Newswires

September 23, 2022 18:26 ET (22:26 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.
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