Petrobras May Help Push Brazil Stock Market Down 35 Percent

By Jay Forte, Contributing Reporter

RIO DE JANEIRO, BRAZIL - A new report by market research company Capital Economics has tried to calculate the cost of the Petrobras scandal in Brazil, which has caused political and financial ripples across the country. Brazil’s stock market has fallen by 35 percent in terms of U.S. dollars since the start of September, just under half of that has been caused by a drop in the value of Petrobras shares.

However even without the fall in Petrobras shares, Capital Economics estimates that Brazil’s stock market would still have dropped by about twenty . . .

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