Stock market falls to worst level since November 2020; dollar rises to R$ 5.23

The Ibovespa, the main index of the B3, São Paulo Stock Exchange, hit the third day in a row with a drop of 1.45%, to 98,080.34 points. And the worst level since November 4, 2020 (97,866.81 points). The commercial dollar amended the second increase, of 1.02%, quoted at R$5.23 on sale, the highest value in more than four months, since February 11.

Today is the fifth day in a row that the Stock Exchange is below 100 thousand points.

Despite the recovery in iron ore prices this session, fears of a global recession continue to undermine prospects on certain commodities and affect B3, also weakened by domestic risks.

The stock exchange’s performance was negative in all scenarios. In the weekly variation, it fell 1.75%, in the monthly, 10.99% and in the annual, 6.43%.

The shares with the highest increases were those of Locaweb (LWSA3), which rose 9.19%, while the negative highlight was SLC Agrícola (SLCE3), which plummeted 6.57%.

Dollar reaches highest value since February 11

The dollar abandoned the uncertainty seen earlier in the day and even surpassed the BRL 5.23 mark, supported by the strengthening of the US currency abroad as the prospect of a tight monetary policy in the United States fueled fears of recession.

The dollar value disclosed daily by the press, including the UOL, refers to the commercial dollar. For those who are going to travel and need to buy currency at exchange brokers, the value is much higher.

About Abhishek Pratap

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