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What’s Affecting Vale Stock

Annie Gilroy
What’s Affecting Vale Stock

Almost in line with peers Rio Tinto (RIO) and BHP Billiton (BHP), Vale (VALE) had returned 13% year-to-date as of June 7. Lately, Brazilian stock is being pressured due to economic and political issues facing the country. The nationwide truckers’ strike against high diesel prices has hit stocks. On June 7, the Brazilian real hit a two-year low, which led to a widespread sell-off. The iShares MSCI Brazil ETF (EWZ) is on track to lose 20% so far this year amid these concerns.