ADR Report-ADRs tumble as investors fret about global growth

By Steven C. Johnson

NEW YORK, Sept 4 - Overseas shares traded in the United States tumbled on Tuesday as weak U.S. labor market data and signs of increasingly sluggish growth abroad bruised global equity markets.

The Bank of New York's index of leading American Depositary Receipts <.BKADR> fell 3.7 percent, while the 30-share Dow Jones industrial average <.DJI> fell 2.3 percent.

Losses were broad-based, with mining and semiconductor shares among the worst performers. New York-traded shares of Rio Tinto Plc <RTP.N> fell 2.6 percent to $318.78 while Anglo American <AAUK.O> shares shed 4.2 percent to $21.57.

Earlier on Thursday, U.S. maker of construction and mining equipment Terex Corp <TEX.N> cut its 2008 profit forecast, citing weak demand in Western Europe and North America.

The Bank of New York's index of leading European ADRs <.BKEUR> fell 3.7 percent. In Europe, the FTSEurofirst 300 <.FTEU3> ended 2.5 percent lower after European Central Bank President Jean-Claude Trichet said data point to weakening euro zone growth at midyear.

New York-traded shares of Barclay's <BCS.N> fell 7.5 percent to $23.38, UBS <UBS.N> shares fell 6.7 percent to $21.

The Bank of New York's index of leading Latin American ADRs <.BKLA> were 4.4 percent lower. In Latin America, major benchmarks fell, with Brazil's Bovespa index <.BVSP> down 3.5 percent and Mexico's IPC gauge <.MXX> down nearly 2 percent.

U.S.-traded shares of Petroleo Brasil <PBR.N> were off 5.7 percent at $45.21 while Petrobras Energy <PZE.N> fell 4.3 percent to $10.67.

Asian stock markets also swooned on Thursday, leading the way lower for the Bank of New York's index of leading Asian ADRS <.BKAS>, which shed 3.1 percent.

Fears of sluggish U.S. and euro-zone growth coupled with a U.S. dollar rally hit export-sensitive shares, while worries about a slowdown in global technology spending hit techs.

Taiwan's No. 2 chip packaging firm, Siliconware <SPIL.O> fell 7.3 percent to $5.75 on the Nasdaq while ADRs of Japan's Kubota Corp <KUB.N>, a farm equipment maker, fell nearly 5.5 percent to $32.40.

Tokyo's Nikkei index <.N225> fell 1 percent on Thursday while the MSCI index of Asian stocks outside Japan <.MIAPJ0000PUS> fell 4.3 percent.

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