Around the World's Markets: Sao Paulo

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The Independent Online
THE BRAZILIAN central bank intervened yesterday in support of the real as fears of the contagion effect from Asian markets undermined confidence in Latin American stocks, bonds and currencies.

Brazil's Bovespa plummeted 13.31 per cent to 4902.46, breaching circuit breakers triggered when stocks fall more than 10 per cent. It is the fifth successive day of falls. In the last month the index has fallen 40 per cent. Mexico and Argentina also suffered severe setbacks.