Petrobras Near $1, Stocks at Decade Low: Brazil's Rout in Charts
- Shrinking economy, political turmoil exacerbate global slump
- Brazil has underperformed emerging-market average for 6 years
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The start of 2016 has been grim for investors in Brazil.
Three weeks into January, the benchmark stock index is already down 15 percent in dollar terms, underperforming its emerging-market peers and the Standard & Poor’s 500 Index, just as it has every year since 2010. While expectations for a rebound in Brazil weren’t high, with political instability and the worst recession in a century, the Ibovespa’s worst start to a year in data that goes back almost two decades has decimated any bullish hopes.