Brazil’s Stocks Fall as Fed Concern and Commodities Drop Collide
- Boston Fed president fuels speculation over rate increase
- Petrobras follows crude decline as supply agreement questioned
The Slow Unraveling of Brazil, Explained in Two Minutes
This article is for subscribers only.
The Ibovespa trimmed a weekly advance as Petroleo Brasileiro SA followed a drop in crude prices and comments by a Federal Reserve president fueled concern that interest rates in the U.S. may rise sooner than previously expected.
Petrobras, as the state-controlled oil producer is known, contributed the most to the benchmark equity index’s decline. Crude slumped as Saudi Arabia isn’t anticipating any decision to be made about supplies in talks in Algiers next week, according to an OPEC delegate familiar with the country’s policy. Education groups Kroton Educational SA and Estacio Participacoes SA were also among the worst performers on the gauge.