It’s not a moment to catch the falling knife in riskier markets
Brazil ETF fell 14%, while South African and Mexican currencies both took a hit
The Paris-traded Brazil ETF fell 14% in this morning’s trading after tape records surfaced that allegedly showed Brazil’s president taking bribes. The South African rand is down by 3.8% over the past two days, and the Mexican peso is down by 2.8%.
Turkey’s stock market was down 2.25% in dollar terms yesterday and fell another 3% in dollar terms this morning as both the TRY exchange rate and local-currency stock prices weakened.