International stocks trading in New York closed lower on Wednesday.

The BNY Mellon index of American depositary receipts fell 2.2% to 137.33. The European index decreased 1.5% to 136.40, the Asian index dropped 3.7% to 143.20, the Latin American index fell 2.3% to 202.08 and the emerging markets index declined 3.1% to 240.25. National Bank of Greece SA (NBG) was among the companies with ADRs that traded actively.

Greece took a first step toward addressing demands that eurozone leaders say it must meet to stay in the euro, as pressure grew on both sides to reach a deal and avert the country's imminent financial meltdown. ADRs of National Bank of Greece fell 7.4% to 88 cents.

The Chinese government struggled Wednesday to prevent distress in the country's stock markets from spreading as it openly fought market forces it has pledged to give a larger role. Early Wednesday, the Chinese authorities rushed out another raft of emergency measures to halt what is turning into a crisis of confidence in leaders' ability to steer the economy. Among the decliners, Sinopec Shanghai Petrochemical Co. (SHI, K3DD.SG, 600688.SH, 0338.HK) slid 15% to $33.09 and China Mobile Ltd. (CHL, K3PD.SG, 0941.HK) declined 5.4% to $57.72.

ADRs of mining companies declined as concerns that China's economic growth has cooled were exacerbated by the declines in its stock market. Rio Tinto PLC (RIO, RIO.LN, RIO.AU) fell 3.9% to $38.17, BHP Billiton Ltd. (BHP, BHP.AU) dropped 4.1% to $37.39, BHP Billiton PLC (BBL, BLT.LN) fell 4% to $36.38 and Vedanta Ltd. (VEDL, 500295.BY) fell 12% to $8.70.

Alibaba Group Holding Ltd. (BABA) has invested more than $100 million in Mei.com, a Shanghai-based online shopping company that focuses on luxury items, in the e-commerce major's latest effort to tap growing Chinese demand for high-end brands, The Wall Street Journal reported. Alibaba disclosed its latest investment in a statement earlier Wednesday without providing financial terms. ADRs fell 2.1% to $77.94.

Barclays PLC (BCS, BARC.LN) Chief Executive Antony Jenkins was ousted from the bank Wednesday after its board decided fresh blood is needed after three lackluster years with Mr. Jenkins at the helm. ADRs fell 1.3% to $15.79.

ADRs of Tata Motors Ltd. (TTM, 500570.BY) fell 6.8% to $30.82 as the selloff in stock markets in China compounded concerns for investors in the parent of Jaguar Land Rover. Demand for luxury cars already has been slowing in China, which is now the single-largest market for Jaguar Land Rover cars. Several brokerages have already raised red flags on Tata Motors as it gets bulk of its earnings from Jaguar Land Rover.

Write to Tess Stynes at tess.stynes@wsj.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

Tata Motors (NYSE:TTM)
Historical Stock Chart
From Feb 2024 to Mar 2024 Click Here for more Tata Motors Charts.
Tata Motors (NYSE:TTM)
Historical Stock Chart
From Mar 2023 to Mar 2024 Click Here for more Tata Motors Charts.