Brazil’s stocks officially fall into a bear market

For weeks, the Brazilian inventory market has narrowly escaped a bear market. However as commodity costs proceed to fall — pressuring a number of the nation’s most vital shares — the Ibovespa benchmark index fell virtually 21 p.c beneath its most up-to-date peak, recorded on April 1. It was additionally the index’s lowest level since November 2020.

Mining giants Vale and CSN pulled Ibovespa downward, every recording drops of greater than 5 p.c. Shares of oil big Petrobras, Brazil’s largest firm, dipped by 2.69 p.c.

Crude oil costs have fallen beneath USD 95 a barrel for the primary time since…