Brazil Stocks Slip 0.5% After 13.9% Plunge
Brazil’s main stock index slipped 0.5% a day after its 13.9% plunge, as the real recovered 1.3% to R$5.34 but stayed 7% weaker than Friday. The post Brazil Stocks Slip 0.5% After 13.9% Plunge appeared first on The Rio Times .
The Ibovespa, Brazil's main stock index, slipped 0.51% to 175,710 points on Tuesday following a 13.88% plunge on Monday. The Brazilian real strengthened 1.3% to R$5.34 per US dollar, still about 7% higher than Friday's R$4.98. New York-based miners Vale, Nu Holdings, and the EWZ Brazil fund experienced declines of 1.3%, 1.5%, and a rise of 0.4%, respectively.
Prediction markets suggest a 66% chance of five rate cuts by Brazil's central bank in 2026. The central bank's Selic rate influences the economy and currency's value. While Tuesday's decline suggests selling may have slowed, the market has not yet reversed.
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