September: Stock market hell, dollar paradise
The Ibovespa closed September with a 7,38% drop, the worst monthly fall since October 2008, the month following the collapse of Lehman Brothers. Meanwhile, the dollar rose 18% in the month.
247 – The Ibovespa has been falling for six months, but no drop has been as painful as that of September, when the index suffered a 7,38% fall, the worst monthly drop since October 2008, when it fell 24,80%. The reference point gains in dramatic detail when one considers that October 2008 is the month following the collapse of the American bank Lehman Brothers, which marked the most complicated phase of the crisis that began that year.
The São Paulo Stock Exchange closed the day down 1,99%, at 52.324 points, its worst result since August 22nd. The Bovespa has accumulated a 23,71% drop in the last six months, the longest losing streak since the period between June and November 2008, when the accumulated decline was 49,62%. This result stems from global pessimism resulting from the financial crisis that continues to plague the world.
Fleeing from losses, investors clung to gold and the dollar, which, bucking the stock market trend, became the best investment of the month, with the largest monthly increase in 36 months. The value of the American currency rose 18,1% in September, becoming the best investment of the month. The American currency closed the day at R$ 1,88.