Vale (VALE) stock drops before the bell after Brazil prosecutors seek R$1 billion asset freeze
Vale’s U.S.-listed shares fell about 5% in premarket trading after a filing showed Brazilian prosecutors are seeking to freeze R$1 billion in assets over a Fábrica mine incident. The stock traded at $16.07, down from $16.93. No injuries were reported in the January 26 overflow. Investors await a court ruling and Vale’s annual results later this month.