Brazil’s second-biggest steelmaker Usinas Siderurgicas de Minas Gerais SA dropped the most in one week, erasing an earlier gain, as concern that growth will falter in Brazil pushed stocks lower and outweighed speculation Ternium SA will bid for a stake.

Voting shares of Usiminas, as the company is known, fell 2.9% to BRR 22.57 at the close of trading in Sao Paulo after earlier jumping 7.3%.

The Bovespa fell 2.7%, the most since Oct. 3, after a report showed that Brazil’s economy grew at the lowest rate in two years in September amid the slowdown in Europe and China.

(Sourced from Bloomberg)