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Market Update: Brazilian Stocks Book 2.6% Weekly Drop
Brazil’s Ibovespa closed 0.8% higher at 118,053 on Friday after a negative start but ended 2.6% lower for the week as investors continued to assess the impact of the advance of the Delta variant, signs that the US Federal Reserve could start pulling away its massive emergency support earlier and a slowdown in the global economy. On the domestic front, subdued market sentiment has been influenced by fiscal noise around spending ceilings, uncertainties with the advance of the reform agenda, including the long-delayed tax reform, and the political crisis between the powers. [/s2If]
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