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Friday, March 29, 2024

Brazilian Stocks Tumble 6% In Early Japan Trading

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

So far US equity futures are flat to modestly higher on the ‘disappointing’ news that Rousseff was re-elected in Brazil. USDJPY has given up its hope-based gains and is lower (implying a 4-5 point drop in S&P Futures that is not there yet). Brazilian stocks (trading in Japanese ETFs) are down almost 6% in early trading on heavy volume as the pro-business hope-driven rally has been almost entirely given back.

NEXT FUNDS IBOVESPA ETF (Japan)

On heavy volume…

and USDJPY has faded – though S&P Futures are stable for now…

Charts: Bloomberg

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