Brazil ETF Stung by Petrobras Downgrade
February 25, 2015 at 12:30 PM EST
Shares of Petrobras (NYSE: PBR), Brazil’s state-controlled oil company, are off 7% Wednesday on volume that appears likely to eclipse the daily average after Moody’s Investors Service lowered its rating on Latin America’s largest publicly traded oil producer to junk. That is proving to be bad news...