ADR Report-ADRs fall as Goldman Sachs charge sparks risk trade

* SEC charge against Goldman Sachs sparks risk aversion

* Banks, emerging markets lead selling

* BNY Mellon leading ADR index falls 2 pct

NEW YORK, April 16 (BestGrowthStock) – Overseas shares traded in
the United States fell on Friday as fraud charges against
Goldman Sachs sowed uncertainty among investors, prompting a
wave of selling in banks and emerging markets.

U.S. securities regulators charged Goldman Sachs Group Inc
(GS.N: ) with fraud in the structuring and marketing of a debt
product tied to subprime mortgages, sending its stock tumbling
11 percent and hitting the broader market. [ID:nN16121493]

The Bank of New York Mellon index of leading American
Depositary Receipts (ADRs) (.BKADR: ) fell nearly 2 percent,
while the U.S. benchmark S&P 500 index (.SPX: ) lost 1.4
percent.

Fearing more to come in the financial sector, investors
sold banking stocks and more volatile emerging market
securities. HSBC Plc (HBC.N: ) fell 2.5 percent to $53.61 in New
York, while China Mobile (CHL.N: ) lost 3.3 percent to $50.35.

U.S. Treasuries rose for a second day as the uncertainty
bolstered the safe-haven appeal of bonds.

The Bank of New York Mellon index of leading European ADRs
(.BKEUR: ) declined 1.8 percent. In Europe, the FTSEurofirst 300
(.FTEU3: ) index of top shares ended down 1.5 percent.

Chinese ADRs were among the hardest hit, with local stocks
already under pressure due to concerns the Chinese central bank
will move to cool the economy. China Petroleum and Chemical
Corp (SNP.N: ) fell 2.6 percent to $83.12.

The Bank of New York Mellon index of leading Asian ADRs
(.BKAS: ) fell 2 percent. In Asia, shares were lower.

Petrobras SA (PBR.N: ) was among the hardest hit of Latin
American shares traded in New York, dropping 1.8 percent to
$42.61. The Goldman Sachs news also hit commodity prices as
investors sold assets across the board.

That was bad news for Brazil’s Vale SA (VALE.N: ), the
world’s largest iron ore miner, which slid 1 percent to
$33.66.

Receipts with the Bank of New York Mellon index of leading
Latin American ADRs (.BKLA: ) lost nearly 2 percent. In Latin
America, major benchmarks were lower.

Stock Market Basics

(Reporting by Edward Krudy; editing by Jeffrey Benkoe)

ADR Report-ADRs fall as Goldman Sachs charge sparks risk trade