Ibovespa Drops 1.38% as Fiscal Concerns Overshadow Credit Rating Upgrade

The Brazilian stock market faced a setback as October began. The Ibovespa index dropped 1.38%, closing at 131,671.51 points. This decline of 1,843.43 points marked the index’s largest retreat in two weeks. The commercial dollar also felt the impact, rising 0.54% to R$ 5.47. It even reached R$ 5.51 at its peak during the day. […]