AB InBev, the parent company of Budweiser, reported lower-than-expected volume and revenue due to weak demand in China and Brazil. Overall beer volume fell 2.2%, but sales in other regions increased, with U.S. sales bouncing back after a Q1 decline. CEO Michel Doukeris remains confident in the company’s strategy. U.S.-listed shares sank 12%. Despite the drop, shares are 17% higher year-to-date.

Read more at Yahoo Finance: Budweiser Maker AB InBev Stock Sinks as China, Brazil Demand Plunges