A sharp divergence between large and small-cap stocks defined the session, with risk appetite draining away even as gold surged past US$4,000 an ounce.
Commodity prices are telling a two-speed story for Brazilian resources investors, with gold's surge cushioning local miners even as crude holds flat and equity volatility bites.
A Nasdaq slide of more than one per cent and a surging gold price set a cautious tone for São Paulo trade, with commodity exposure offering a partial buffer.
