By Victoria Finkle Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--International companies trading in New York tumbled across the board on discouraging U.S. earnings reports and growing concerns about the economic outlook. The Bank of New York index of ADRs sank 3.1% to 119.61. The financial sector largely plummeted on growing worries over how financial regulation will hurt banks and on lackluster earnings reports from Citigroup Inc. (C) and Bank of America Corp. (BAC). Among the biggest losers, the U.K.'s Barclays PLC (BCS, BARC.LN) tumbled 8.2% to $17.30, Royal Bank of Scotland Group PLC (RBS, RBS.LN) dropped 6.6% to $13.21, and Lloyds Banking Group PLC (LYG, LLOY.LN) slid 6.7% to $3.60. The European index slipped 3.3% to 110.28. Shares of BP PLC (BP, BP.LN) fell in the U.S., although its recently placed cap continued to show promise for having the ability to completely shut-in an overflowing well in the Gulf of Mexico. BP also said payments to residents and businesses along the Gulf of Mexico affected by the oil spill have reached $201 million. Shares fell 4.7% to $37.10. Five companies were fined a total of GBP9.5 million (US$14.5 million) for their involvement in a massive fire and explosions at the Buncefield oil storage depot in the U.K. in December 2005. Total UK, the refining and marketing subsidiary of France's Total SA (TOT, FP.FR), was fined GBP3.6 million and will pay an additional GBP2.6 million in legal costs for failing to prevent the fire at its oil depot. Shares of Total SA fell 2.9% to $48.99. The Latin American index fell 2.6% to 344.07. Negotiations to end a year-long strike at Brazilian mining company Vale SA's (VALE) Voisey's Bay operation in eastern Canada will resume Monday, although the miner is currently working on plans to ramp back up to full production regardless of a deal being signed, it said. The facility was operating at 35% capacity after union members took strike action 12 months ago. Vale shares dropped 2.6% to $24.34. The Asian index slipped 3% to 115.89. Taiwan Semiconductor Manufacturing Co. (TSM), the world's largest contract chip maker by revenue, plans to spend more than NT$300 billion (US$9.34 billion) over the next few years to invest in a new chip plant in central Taiwan to boost capacity and hire around 8,000 new staff, company executives said. Shares fell 2.3% to $9.92. The emerging markets index dropped 2.6% to 284.62. India's Infosys Technologies Ltd. (INFY, 500209.BY) has shut down its Bangkok back office as it was unable to scale up operations there, the company's chief executive, Kris Gopalakrishnan, said. Shares fell 1.8% to $58.31. -By Victoria Finkle, Dow Jones Newswires; 212-416-3418; victoria.finkle@dowjones.com (END) Dow Jones Newswires July 16, 2010 16:51 ET (20:51 GMT)