Petrobras ( PBR ) sank 3.9% and Vale ( VALE ) plunged 4.4% as traders fled signs that China may be tapering off its once-massive commodity imports. India , stocks were almost completely unchanged as traders shifted from fleeing what they see as elevated inflation risks and into a new appreciation of the robust domestic economy. On the one hand, the latest inflation numbers coming out of Beijing indicated that price pressures are alive and well even as industrial activity cools.