Economy
Ibovespa Futures Plunge 14.84% Following Lula's Election Victory
The future dollar soared 9.16% on B3 and future interest rates jumped amid stock exchange oscillation limit changes and analyst warnings over fiscal risks.
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The essentials of this story
- What happened
- Drastic drop in Ibovespa Futures, surge in the dollar, and a jump in future interest rates following the election.
- Who is affected
- Investors, companies with shares listed on B3, and the Brazilian financial market.
- What changes
- B3 expanded the oscillation limits for Ibovespa futures contracts to up to -20% due to volatility, and economic projections are undergoing revision.
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