Ibovespa Suffers 3% Drop in May Amid Fiscal Concerns and Central Bank Changes

May was tough for Brazil’s primary stock index, the Ibovespa, which dropped 3.04%, bringing its annual loss to 9.01%. This decline wasn’t just about international trends like U.S. interest rates; local issues also played a big part. Throughout 2024, Ibovespa has felt the impact of foreign investment withdrawal, primarily due to the rising U.S. interest […]