When Will Petrobras’ Fire Sale Start?

The economic instability in China has raised concerns about the global economy, but the pain is already being acutely felt in Brazil, where economic success over the past decade was largely built on exporting commodities and natural resources to China. The sudden slowdown in demand for commodities in China has hit Brazil hard. About 20 percent of Brazil’s main stock index, the Sao Paulo Stock Exchange, or Ibovespa, consists of commodity producers. Thus the collapse of commodity prices has crushed Brazil’s stock exchange, which is down…

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When Will Petrobras’ Fire Sale Start?

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