Petrobras, Vale ADRs plunge after new Brazil corruption allegations

Reuters

NEW YORK (Reuters) - Shares in Brazilian state-controlled oil company Petroleo Brasileiro SA and iron ore miner Vale SA both plunged in U.S. after-hours electronic trading following a report that the country's president was taped backing the payment of a bribe to thwart a corruption probe. Petrobras American Depositary receipts were down 11 percent to $9.15, while Vale ADRs slumped 7 percent to $7.93. (Reporting By Christian Plumb; Editing by Dan Flynn)