Brazil-linked stocks crater at the open, Nu Holdings off 21.7%
As seen on the 24/7 Wall St. homepage on October 26, 2026.
Every one of the five biggest decliners at the open is a Brazil-linked name, led by Nu Holdings down 21.7% and Itau Unibanco down 21.3%. Tesla tops the gainers at 4.5%, a fraction of the damage on the other side of the board.
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At the open on October 26, 2026, every single name in the top-five decliners list shared one common thread: exposure to Brazil. That kind of sector-specific sweep is unusual and signals something broad hitting the market rather than company-specific news at any one firm.
Nu Holdings led the damage, down 21.67%, with Itau Unibanco falling nearly as hard. Two of Brazil's largest financial institutions moving in near lockstep points investors toward a single macro or policy-level development.
Petrobras, the state-linked oil giant, appeared twice in the losers list through its two share classes, PBR-A and PBR, each down roughly 17%. MercadoLibre, the e-commerce and fintech platform with deep roots in Brazil, rounded out the five with an 11.33% drop.
The scale of the losses dwarfs anything on the gainers side of the board, where Tesla topped the list at just 4.54%. Rubrik, SK hynix, Palo Alto Networks, and Deutsche Bank also moved higher, but the session's defining story is entirely on the Brazil side.