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RIO DE JANEIRO, BRAZIL - The recent surge in stock markets, despite the global economy being in tatters, raises questions about whether or not the highs are detached from reality.

Last week, the Nasdaq composite index hit 10,000 points for the first time in history, even after the Federal Reserve (Fed) revised this year's US GDP growth projection to a negative -6.5 percent.

Since the last week of March alone, over 40 million unemployment claims have been recorded in the United States.

In Brazil, the IBOVESPA, the B3's main stock index, has already climbed 50 percent since . . .

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