Brazil Stocks Slip, Real Rebounds After Trump's 50% Tariff Threat
Brazil's stock market was dragged lower by its financial sector on Thursday while the real currency rebounded, a day after US President Donald Trump's shock move to slap 50% tariffs on imports from Latin America's largest economy, citing political disagreements.
Currency volatility gauges were at their highest since the back-end of April's tariff announcements after the real slumped as much as 2.8% on Wednesday in reaction to what Deutsche Bank described as an escalation of tensions. The currency ended down 2.3% Wednesday but bounced on Thursday...
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