Business

Market roundup: Investor fears give Brazil a bear hug

Brazilian stock exchange felt the weight of the drop in commodities prices and was unable to follow the performance of American benchmarks

bear market brazil
Illustration: EamesBot/Shutterstock

🔔 The dashboard: Brazil’s benchmark stock index Ibovespa dropped by 1.15 percent this week. Meanwhile, the Brazilian Real lost 1.73 percent against the U.S. Dollar this week. 

  • Biggest gains: Weg (engineering), +15.9 percent.
  • Biggest drops: SLC Agrícola (agribusiness), -14.81 percent.

Brazilian stock exchange in bear market territory

Last week’s stock rout spilled over into this week in Brazil, with significant losses. The country’s benchmark stock index Ibovespa ended Thursday’s trading session at 98,080 points — the lowest since November 2020. Falling into a bear market is as close as ever.

Definition. A bear market is when stocks fall 20 percent from...

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