SAO PAULO (AP) Brazilian stocks are falling amid a slide in commodity and oil prices.

Sao Paulo's Ibovespa index was down 0.6 percent to 50,481 during the first hour of trading. Brazil's currency slipped to 2.05 reals per dollar.

Tuesday's declines tracked markets in Europe and Asia, where investors expressed concern over North Korea's test fire of two missiles a day after its nuclear test.

In Brazil, investors sent shares of state-run oil company Petroleo Brasileiro SA down 0.6 percent as international oil prices dipped below $61 per barrel.

Shares of iron ore miner Vale SA were down 1 percent on concerns over demand by steel makers for ore steel's raw ingredient.

Copyright 2009 The Associated Press.