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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum

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Dec 19 4:00 PM EST

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From: Elroy Jetson	10/6/2008 1:16:15 PM
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Brazil Stocks Drop 15%, Trading Halted Twice 06 Oct 2008 -- cnbc.com Brazilian stocks plunged more than 15 percent Monday, before trading was halted for a second time, as investors dumped stocks around the world amid growing fears that a banking crisis is spreading. Sao Paulo's Ibovespa index sank more than 6,700 points, or 15 percent, to around 37,800. Trading was suspended for one hour. Brazil's stock market has not suspended trading twice in the same day since January 1999, when the country let its currency float freely against the dollar. Brazil's currency, the real, fell 6.3 percent to a level not seen since early 2007. The losses come on top of steep market declines during three sessions last week. It is the second time in a week that the Ibovespa has fallen more than 10 percent in intraday trading. A worldwide economic slowdown would be extremely bad news for Latin America's commodities-based economies because developed nations will buy less of the region's raw materials. .

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