Key Points
Brazilian markets are closed Thursday for the Corpus Christi holiday, so Wednesday’s numbers stand until trading reopens on Friday.
The Ibovespa dropped 2.2% Wednesday to 170,331, wiping out Tuesday’s rebound and landing close to an important long-term support line.
The real weakened sharply: one US dollar now buys about 5.06 reais, up from below 5.00 just a day earlier.
The sell-off was worldwide and driven by fresh fighting between the US and Iran overnight, which sent oil prices higher and worried investors everywhere.
