Brazil Small-Cap Stock Index Drops 30% in Record Decline

A Brazilian small-cap stock index fell 30% Monday, its largest drop on record, putting a sharp loss in the country’s smaller listed companies in focus for U.S. investors.

The 30% figure describes the index as a whole. It does not mean each company in it lost the same amount, and it should not be read as the decline in Brazil’s entire stock market.

By 9:57 a.m. ET (13:57 UTC), shares of a U.S.-listed Brazilian bank were still down more than 28% after paring losses. That share-price move and the small-cap index drop are separate observations of different assets, taken at different times.

Together, the readings show pressure in a group of smaller Brazilian stocks and in at least one Brazilian company whose shares trade in the United States. The index decline is an equity-market measure; it does not establish a price move in any cryptocurrency.