Concerns about interest rates in the United States and the escalation of the war between Russia and Ukraine provoked a day of pessimism in the global financial market. After three straight declines, the dollar had its biggest daily rise in three weeks. The stock market fell by almost 2%, pressured by the foreign market and the uncertainty surrounding the change in command of Petrobras.
The commercial dollar closed this Tuesday (5th) sold at R$ 4.659, up by R$ 0.059 (+1.11%). The quotation even opened in fall, but started to rise as soon as the North American market began to operate. At the peak of the day, around 11:45 am, the coin was sold at R$4.67.
That was the biggest daily gain since March 14. Despite today’s high, the dollar accumulates a fall of 2.14% in April. In 2022, the decline reaches 16.45%.
The day was also tense in the stock market. The B3 Ibovespa index closed at 118,885 points, down 1.97%. The indicator operated on a high in the morning, but collapsed in the afternoon.
The prospect of prolonging the conflict between Russia and Ukraine soured the financial market on Tuesday. After the revelation of hundreds of civilian bodies in a city near Kiev, which raises suspicions of a war crime against Russia, some investors are starting to bet that the Federal Reserve (Fed, US Central Bank) will be able to raise interest rates in half a percentage point in the next meetings, at a faster pace than expected.
At its last meeting, at the end of March, the Fed raised interest rates by 0.25 percentage point. Higher interest rates in advanced countries encourage capital flight from emerging economies such as Brazil.
In the domestic market, the uncertainty surrounding the change in command of Petrobras continued to put pressure on the stock market. Last night (4th), economist Adriano Pires, appointed by President Jair Bolsonaro last week to manage the state-owned company, announced the resignation from the position. Petrobras shares fell 0.06% (common stock) and 0.28% (preferred stock).
* With information from Reuters
