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Brazil stocks open down

Brazil stocks open down

Brazilian stocks are falling as fears of a global recession continue.
Brazil's Ibovespa stock index is down 1.76 percent at 30,955 on Monday morning. The index has lost nearly 60 percent of its value since May.
Low commodity prices and fears that recessions will hit Brazil's main export markets _ Europe and the U.S. _ are spooking investors.
The Ibovespa losses came as Asian and European stocks dropped steeply, further souring the mood for Brazilian investors.
Brazil's local currency _ the real _ is unchanged at 2.3 to the dollar.
The central bank said last week that it would continue to sell dollars to help stem the real's losses.


Updated : 2021-04-17 07:26 GMT+08:00