Brazil Stocks Sink, Trigger Second Circuit Breaker This Week
- Move follows global slump that’s threatening U.S. bull market
- Ibovespa has lost more than 30% since peak in January
A visitor views the electronic board at the Brasil Bolsa Bacao stock exchange in Sao Paulo, Brazil.
Photographer: Patricia Monteiro/BloombergThis article is for subscribers only.
Brazilian stocks triggered a circuit breaker for the second time in three days, sinking with markets across the globe after the World Health Organization declared the coronavirus outbreak a pandemic.
The benchmark Ibovespa equity index slumped 10% on Wednesday afternoon, prompting the exchange to halt trading for 30 minutes. The same had happened Monday, when a jaw-dropping slump in oil prices sent the index into a bear market, erasing 14 months of gains. The real slumped more than 3.3% as of 5:55 p.m. in Sao Paulo, reclaiming the post of worst currency in the world in 2020.