Brazil stocks drop 3 pct on global downturn
SAO PAULO, May 7 (Reuters) - Brazil's Bovespa index .BVSP of the Sao Paulo Stock Exchange erased earlier gains and fell 3.3 percent to 49,802 points in mid-afternoon trade, pulled down by a sell off in global stock markets on Thursday.
European and U.S. stocks fell ahead of the announcement of results from the so-called stress test on 19 of the biggest banks in the United States by the Treasury.
(Reporting by Reese Ewing)
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