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Brazil’s stock market down; dollar surpasses R$5.70 amid global monetary tightening and Omicron

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RIO DE JANEIRO, BRAZIL – Monetary tightening and concerns about the Omicron variant of Covid-19 abroad undermined the resilience of the Brazilian stock market on Friday morning, December 17.

After closing high the day before, despite the drop in the U.S. market, the Ibovespa, the main index of the Stock Exchange, was down 1.01% at 107,230 points at 11:01 AM on Friday.

The dollar rose 0.40% to R$5.7030, reflecting investors’ search for security in a global scenario of lower liquidity.

After the Fed signaled three interest rate hikes to address inflation in 2022 . . .

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