Don't miss

Replay


LATEST SHOWS

THE WORLD THIS WEEK

Head of French armed forces quits; Six months of President Trump

Read more

IN THE PAPERS

Man vs Shark: Michael Phelps loses 'race' to great white

Read more

IN THE PAPERS

Chris Froome 'almost' among the greats with fourth Tour de France win

Read more

EYE ON AFRICA

International Francophone Games kick off in Abidjan

Read more

THE INTERVIEW

Iran open to dialogue with Saudis, says top diplomat

Read more

MEDIAWATCH

Spicer bows out of White House

Read more

FOCUS

Iraq's Mosul: Rebuilding a city fractured by sectarian mistrust

Read more

FRANCE IN FOCUS

Bistrot or bust? Why France's famed cafés are disappearing

Read more

REPORTERS

Video: Afghans live in fear as kidnappings soar

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)