Ibovespa drops almost 3% and erases gains from the day before; dollar soars and exceeds R$ 5

The Brazilian stock market closed down sharply this Thursday (5), erasing the gains recorded in the previous session. The downward movement followed the retreat of the main US indices, pressured by the fall of technology companies, after disappointing results.

The index had climbed 1.7% yesterday, along with the jump in stocks on Wall Street, after US central bank governor Jerome Powell ruled out a 0.75 percentage point hike in US interest rates for now. The statement followed the announcement of a 0.5 point increase, as expected.

The Ibovespa dropped 2.81%, to 105,304 points, after oscillating between 103,923 and 108,336 points. The financial volume was R$ 31.7 billion.

Only four Ibovespa shares closed higher. Metalúrgica Gerdau (GOAU4) and Gerdau (GGBR4) shares rose 3.63% and 2.33%, respectively, followed by Suzano shares (SUZB3), with a gain of 2.69%. Klabin rose 1.17%.

Gerdau and Suzano shares rose after the release of their respective balance sheets, which were well evaluated by some analysis houses.

The shares of Totvs (TOTS3) and Magazine Luiza (MGLU3) were the negative highlights of the session, retreating, respectively, 11.12% and 10.71%, followed by the shares of Inter (BIDI11), with losses of 9.36 %.

Totvs shares fell sharply after the publication of the balance sheet. Magalu shares underwent a correction movement after jumping more than 7% in the previous session.

The dollar rose again and surpassed R$ 5.00, with global risk aversion and the outflow of foreign capital from the country. The American currency rose 2.30% to R$5.016, after fluctuating between R$4.933 and R$5.05.

At the aftermarket, at 5:03 pm, futures interest rose sharply: DIF23, +1.81 pp, to 13.24%; DIF25, +3.5 pp, at 12.34%; DIF27, +3.09 pp, at 12.18%; DIF29, +2.76 pp, at 12.27%.

On Wall Street, stocks retreated sharply, completely erasing the previous session’s rally in a stunning reversal. The Dow Jones recorded its worst since 2020.

E-commerce stocks were a major source of weakness on Thursday after some disappointing quarterly reports.

The Dow Jones index fell 3.11% to 33,001 points. The S&P 500 is down 3.55% to 4,147 points, while the Nasdaq is down 4.99% to 12,317 points.

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