Brazil’s stock market down 12% year-on-year while New York trading soars by double digits

With progress in the fight against pandemic boosting global economic recovery and injections of government financial incentives, global stock markets have been delivering consistent gains throughout 2021. However, business in Brazil has lagged due to a combination of successive domestic crises and a challenging external environment for emerging economies.

RIO DE JANEIRO, BRAZIL - From January through September, Ibovespa, the benchmark index for the Brazilian stock market dropped 6.75%. Considering the dollar variation in the period, the plunge is 11.67%. In the United States, during the same period, the three main indicators accumulate gains. Dow Jones, S&P 500 and Nasdaq increased by 10.58%, 14.68% and 12.11%, respectively.

The Brazilian performance also diverges from the growth of other relevant Stock Exchanges in the American continent. In the north, Canada's S&P/TSX and Mexico's S&P BMV IPC indexes increased . . .

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