Macro Fears Assault Brazil Stocks

Macro Fears Assault Brazil Stocks

Equity

Fears that Brazil’s economic fundamentals are undermined by a widening financial crisis that is affecting global demand and commodity prices helped push down the Bovespa 11.3% Wednesday. The index closed at 36,833, its lowest point since September 2006, but off the 35,411 trough of the day. The index is down 41% year-to-date. “Today there was a lot of bad news on the macroeconomic side from various sources, including the Fed, US government and Australia’s Rio Tinto, which says it expects Chinese

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