The Stock Exchange has fallen 16% with Lula so far. But the damage is greater than it seems
The 2.68% drop in the Ibovespa on today's trading session hides an even greater destruction in some sectors and stocks. Casas Bahia, for example, plummeted 20% today, while Cosan lost 12%, Cyrela fell 11% and Cogna retreated 10%.
The Ibovespa index fell 2.68% in today's trading session, but some sectors and stocks experienced much larger losses. Casas Bahia plummeted 20%, Cosan lost 12%, Cyrela dropped 11%, and Cogna declined 10%. The financial index IFNC and the electric energy index IEE also saw significant losses, falling 4.76% and 3%, respectively. Since Lula's re-election, the Ibovespa has accumulated a 16.6% loss in just three trading sessions, with some stocks, such as Vamos, Magazine Luiza, and Cosan, losing up to 60%, 59%, and 55% of their market value, respectively.
Written by urgent.news from Brazil Journal's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
