Brazil's Bovespa tumbles another 3.8%, now back to 2009 levels, dragged down by a continued...

|By:, SA News Editor

Brazil's Bovespa tumbles another 3.8%, now back to 2009 levels, dragged down by a continued plunge in Elke Batista's OGX Petroleum (OGXPY.PK -24.8%). Not helping is today's report of a 2% decline in industrial production in May, about double the estimates. The good news is a drop in swap rates as traders place bets the central bank could stop hiking rates. The Brazil Index ETF (EWZ -3.6%), the Small Cap ETF (BRF -3.8%).