Brazilian stocks fall in early trading as investors lock in gains from weekslong advance

Brazilian stocks fall in early trading

MEXICO CITY — Brazilian stocks are falling as investors lock in gains from weeks of large advances.

Sao Paulo’s Ibovespa index is down 2.3 percent to 50,315 after the first hour of trading on Thursday.

The losses follow a rally that has sent Brazilian stocks to their highest levels in months on the belief that the global economy may start to recover later this year. Wednesday’s close at 51,499 was the highest since September.

The drop came as other world markets extended their rally ahead of the formal release of the results for the U.S. government’s stress tests of the country’s biggest banks.