Gol Linhas Aereas Inteligentes (NYSE: GOL), the airline, is down 4.4% at $7.96 against a 52-week trading range of $5.03 to $14.35.
Petroleo Brasileiro S.A. (NYSE: PBR), or Petrobras, is down 4.6% at $28.26 against a 52-week range of $20.76 to $41.74.
Telefonica Brasil, S.A. (NYSE: VIV) is down 2.5% at $28.85 against a 52-week range of $22.81 to $32.14.
VALE S.A. (NYSE: VALE) is down 6.1% at $23.23 against a 52-week range of $20.46 to $34.74.
iShares MSCI Brazil Index Fund (NYSE: EWZ) is down 3.5% at $66.58 against a 52-week range of $49.25 to $80.23.
Brazil currently has a currency stronger than it can handle and it needs to cut interest rates as well. Other stimulative measures need to come after that, as well as tax reform.
JON C. OGG
Contact [email protected] for any questions or corrections.
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