Fears about interest rates in the United States caused instability in the global financial market. The dollar surpassed R$5.30 for the first time since the end of September. The stock market fell nearly 2% and had the biggest weekly drop in four months.
The commercial dollar ended this Friday (14th) sold at R$5.323, up by R$0.05 (+0.94%). The price started the day down, dropping to R$ 5.24 around 10 am. However, it soared after the opening of the North American markets, until it closed close to the highs of the day.
With today’s performance, the US currency rose 2.1% for the week. The currency, however, accumulates a drop of 1.33% in October, thanks to the sharp decline in the week after the first round of the presidential elections. In 2022, the dollar drops 4.54%.
The day was also marked by turmoil in the stock market. The B3 Ibovespa index closed at 112,072 points, down 1.95%. The indicator operated higher in the first minutes of the session, to fall sharply after the start of operations on the US stock exchanges.
The Ibovespa ended the week with an accumulated drop of 3.77%, the biggest weekly drop since mid-June. The index still accumulates a high of 1.85% in the month, also thanks to the euphoria in the financial market after the first round of elections.
One day after the announcement that consumer inflation in the United States was at 0.4% in September and accelerated again in relation to August, the global market had a day of adjustments. Even British Prime Minister Liz Truss’ decision to roll back the tax cut on the richest has not eased the mood among investors.
US stocks, which had a strong rise yesterday (13), fell today, as a result of a correction movement. New statements by Federal Reserve (Fed, US Central Bank) leaders that they intend to remain rigorous in the fight against inflation have revived fears of higher-than-expected interest rate hikes. Higher rates in advanced economies encourage capital flight from emerging countries such as Brazil.
Fears of a global recession and new lockdown measures in China have sent oil prices plummeting. Even with the decision of the Organization of the Petroleum Exporting Countries (OPEC) to cut the offer, the price of a barrel of Brent type retreated 3.1%, to US$ 91.63.
*With information from Reuters
