LatinNews Daily - 27 February 2020

* The index for Brazil’s São Paulo stock exchange (Ibovespa) tumbled 7% yesterday amid fears of a global coronavirus pandemic. Markets re-opened on 26 February after being closed for two days over the Carnival holiday, as the country’s first case of coronavirus (Covid-19) was confirmed by a second diagnosis. Amid a generalised plunge in global stock markets, the Ibovespa closed the day at 105,718 points, with a 7% dip that marks the Brazilian markets’ worst day since 18 May 2017. The Brazilian real, which has been steadily depreciating against the US dollar, was trading at R$4.45/US$1 at markets’ close. 

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