RIO DE JANEIRO, BRAZIL - Since the first day that the coronavirus outbreak in China hit global financial markets - a month ago on Friday, February 21st - Brazilian companies exporting commodities have lost R$47.709 billion (US$12 billion) in market value. The drop reflects risk aversion amidst uncertainty as to the impact the disease will have on the Asian and world economies.
The time for the epidemic to be under control is also included, with a significant reduction in contamination. Despite the billion-dollar devastation, experts estimate that the shares have not yet felt the full negative impact.
By Friday . . .