Stock market: fears prevail and index falls to -0,74% (13:20 PM)

247 – On a day lacking inspiration, investors on the São Paulo stock exchange are showing restraint, leading to a shift from green to red. Despite opening slightly higher, the Ibovespa was down 0,74% at 13:19 PM, mirroring the decline in New York, which at that time was down 0,13%. There isn't any particularly negative news, but even less good news, both in Brazil and worldwide.

OPENING - The Bovespa opened the trading session with its hands in its pockets, showing little inclination to buy or sell. Trading is slow, with few transactions, but supporting a slight increase of 0,21%, with the Ibovespa at 54.432 points. The market seems sleepy before engaging in a new trend. The opening of the New York Stock Exchange could provide some encouragement.

PRE-OPENING - The market panic has passed, but the state of crisis remains. This is the sentiment that defines the spirit of investors in this first week after the first downgrade of US debt by Standard & Poor's (S&P). The problem is a fundamental issue: the lack of economic growth capacity revealed by developed countries since the 2008 crisis.

Yesterday, it seemed the market would embark on a new round of recovery, but spirits were dampened by the series of GDP data released in the eurozone. Disappointing figures came from Germany, the region's largest economy, France, and the regional average. The result was close to zero, meaning the continent is at a standstill.

With the economy paralyzed, in political crisis and identification with the euro, the countries of the region continue to struggle with the high indebtedness of countries such as Portugal, Italy, Spain, Greece and Ireland. The situation is no different in the US. When questioned about their ability to pay, the American government has begun to discredit the work of rating agencies, one of the symbols of American capitalism, which is driven by concepts emanating from financial and capital markets.

Yesterday, Fitch Ratings confirmed the quality of US debt at the traditional AAA rating. But that doesn't mean much in a scenario where old myths are being shattered. Today, markets remain wary. London was down 0,6% a short while ago, Frankfurt lost 1,1%, and Paris remained stable, fluctuating near breakeven.

Asian stock markets sent mixed signals. Tokyo fell 0,6% and Shanghai retreated 0,3%. Hong Kong, however, rose 0,4%. For Brazil, which has been at the epicenter of the crisis for a long time, the question is the degree of contagion for Brazilian companies from the global growth crisis. The partnership with China, in a way, helps protect Brazil, a major supplier of commodities to the Chinese. It's possible to continue believing in the opportunities offered by the recent stock market declines.