The São Paulo stock exchange opened up 0.8 percent—but the trend quickly reversed, and benchmark index Ibovespa is now down by roughly 4.5 percent.
After the number of Covid-19 deaths rose in Spain and Italy, and the U.S. Senate rejected a USD 1-trillion-plus coronavirus response bill, markets around the world have taken a nosedive. In the Asia-Pacific region, only Tokyo closed in the black.
In Europe, markets have opened on a downward curve, with the pan-European Stoxx 600 falling 6.4 percent.
Last week, the Ibovespa index crashed by 18.8 percent —its worst performance since the 2008 financial crisis.
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