ADRs in Focus: Emerging Markets Banks

The Bank of New York Emerging Markets ADR Index which includes shares of companies based in China, Mexico, Brazil and more lost 8.1 points, or 2.4 percent, to 332.87. ADR stands for American Depositary Receipt, which is a security designed to allow U.S. investors to trade shares of companies based overseas.

The U.S. markets were rattled Monday on implications that a bond market sell-off would make it harder for banks to raise cash, potentially causing more investment portfolio losses. The frenzy hit some of the world's largest banks hard during the session, and Citigroup, one of the world's largest banks, hit a nearly 10-year low.

In emerging markets, shares of Brazil's Banco Bradesco SA fell 95 cents, or 3.1 percent, to $29.39.

Shares of Uniao de Bancos Brasileiros SA, also in Brazil, shed $4.38, or 3.4 percent, to $125.34.

ICICI Bank Ltd. shares lost $1.94, or 4.4 percent, to $41.23.

Shares of South Korea's Kookmin Bank decreased $2.11, or 3.7 percent, to $54.84 after hitting a 52-week low of $54.66 earlier in the session.

Banco de Chile shares fell $1.61, or 2.8 percent, to $55.12.

And shares of Brazil's Banco Itau Holding Financeira SA slid 70 cents, or 2.8 percent, to $24.06.

The Bank of New York Composite ADR Index lost 2.59 points to 164.93 as the U.S. markets finished lower for the day.