Brazil Stocks Sink 12% in Year for First Annual Drop Since 2015
- Ibovespa battered by rising rates, sluggish growth, politics
- Strategists call for bumpy rebound with elections in sight
This article is for subscribers only.
Brazilian stocks ended 2021 in the red, halting a five-year streak of annual gains.
The nation’s benchmark Ibovespa equity index closed the year 12% lower, stung by rising interest rates, anticipation of weaker economic growth and political turmoil, a combination that turned the stock gauge into the world’s second-worst performing national equity index this year.