Bovespa Index Sharply Declines Amid U.S. and China Trade Tension

On Monday, the São Paulo Stock Exchange closed down 2.51 percent to 100,097 points.

RIO DE JANEIRO, BRAZIL - B3, the main index of the São Paulo Stock Exchange, closed trading with a strong drop on Monday, August 5th, amid the increase in commercial tensions between China and the United States.

At 5:19 PM, the Ibovespa had dropped 2.51 percent to 100,097 points.

The Brazilian stock market follows the same direction as most world markets. In China, the Yuan broke the seven-per-dollar mark for the first time in a decade, an indication that the country is willing to tolerate more exchange rate weakening, which could further fuel a trade . . .

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