The IBOVESPA (major Brazilian Index) went down 9% todayhttp://finance.yahoo.com/q?s=
That summed up with the R$/USD movement is TERRIBLE:http://finance.yahoo.com/q?s=BR-Y.CME
(This is not too liquid, but I couldn't find a good English page with the future within the Brazilian local market)
It was something around 15% in USD, the Worst day I had ever seen, circuit break was activated today in Sao Paulo, and Companies such as Petrobras and Vale do Rio Doce plummeted. Our president and economy minister though, insist that the crisis is only in the USA, and that everything is fine there. I'm sick and tired of that.
By the way, can the VIX get to 100%???http://finance.yahoo.com/echarts?s=
Disclaimer I'm kidding about the VIX, and I fell is a good opportunity to sell some volatility, but it's not for the faint at heart.
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