(St. Louis, MO) – A-B InBev stock fell more than 3% on Friday after the Brazilian government increased taxes on alcohol more than expected.

Bloomberg reports, “The Brazilian government raised taxes on beer by 26 percent yesterday. A price increase of about 2.9 percent may be needed to offset the measure, Gabriel Vaz de Lima, an analyst at Barclays Capital in Sao Paolo, wrote in a note yesterday.”

The stock price fell to $65.57 at the end of trading, its lowest share price since late February. It has been on a steady rise since September when it was priced at around $50. The value rose $25 or 50% (up to $74.92) from that point to early May, right after the company reported positive earnings results for the first quarter of the year. See the stock chart on MSN.

SABMiller is among the world players stepping up efforts to compete with A-B InBev in fast-growing emerging markets.

Friday’s performance, in particular, may have been worsened by larger economic concerns around the globe. The U.S. reported weaker-than-expected job growth, capping off a disappointing May.