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Old 07-10-2012, 11:35 PM   #1
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Brazil stocks drop on China slowdown worries

Brazilian stocks dropped Tuesday, with steel stocks hit hard after trade figures from China underscored concerns about slowing in Brazilís key trading partner.

The Ibovespa BR:BVSP -3.05% fell 3.1% to 53,705.82, with investors returning from Mondayís holiday to broad-based losses, led by a declines of nearly 5% each in the home building and steel sectors. The selloff followed Chinese government data showing imports in June grew at a pace that was weaker than anticipated.
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