Banco Bradesco Falls 28.6% as U.S.-Listed Brazilian Shares Pare Losses

U.S.-listed Brazilian shares remained sharply lower Monday morning after paring earlier losses, with Banco Bradesco down 28.6%, the deepest decline among five companies in the market snapshot. Itaú Unibanco fell 20.5%, and Nu Holdings was down 20.4%. Those moves left three financial companies with losses exceeding 20%. Petrobras, the oil producer, declined 15.8%, while aircraft maker Embraer lost 4.8%. The banks showed the steepest declines among the five companies. Bradesco’s loss remained more than eight percentage points larger than the moves in either Itaú Unibanco or Nu Holdings, despite the partial recovery. Embraer had the smallest decline in the group.

Source: TokenPost