Don't miss

Replay


LATEST SHOWS

THE INTERVIEW

Exclusive: Erdogan to rid institutions of ‘separatist cancer’ after coup attempt

Read more

ENCORE!

The best of summer music festivals in France

Read more

FRANCE IN FOCUS

Going for gold: French athletes train for Rio Olympics

Read more

#TECH 24

Digital beauty

Read more

FOCUS

Women doctors in Pakistan challenge the status quo

Read more

BUSINESS DAILY

Trump hopes to reset America's trade relations

Read more

IN THE PAPERS

'Donald Trump's speech was just another scam'

Read more

IN THE PAPERS

Cazeneuve at the heart of Nice security controversy

Read more

EYE ON AFRICA

South Africa: Prosecutors seek longer sentence for Oscar Pistorius

Read more

Sao Paulo suspends stock trading

Latest update : 2008-10-06

The Brazilian authorities suspended trading at the Sao Paulo stock exchange Monday after the main South American financial centre's flagship index plunged by more than 10% in a few minutes.

Trading in Brazil's stock market was suspended minutes after opening on Monday, after the main index plunged more than 10 percent.

The rout on Latin America's biggest bourse mirrored that being felt by other stock markets around the world.

An automatic cut-off takes effect when the Ibovespa index in the Sao Paulo market loses 10 percent -- a bar reached within 19 minutes after opening as investors sought to exit what used to be one of the world's most promising emerging economies.

Monday's drop extended losses that last week officially tipped Brazil into a bear market.

The nation's currency, the real, was also in freefall, losing 5.21 percent over its value on Friday to stand at 2.15 to the dollar.

Date created : 2008-10-06

COMMENT(S)