Ibovespa closes down 3.15% at 120,772 points

The stock exchange increased its losses in the afternoon, after the Federal Reserve’s (Fed) decision to reduce the American interest rate by 0.25 percentage points, to 4.25% to 4.50% per year.

The negative result was also driven by investor fears regarding the progress and possible dehydration of the government’s fiscal package in Congress.

The biggest drop was from Automob, which fell 30%. CVC fell 17.11% and Azul fell 11.58%. Both reaching historic lows.

The Fed’s decision also slowed down the rise in Oil, and Petrobrás fell 2.58%.