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  • Sao Paulo's stock exchange rebounded more than six percent early Tuesday after plummeting 12 percent on Monday as global markets panicked over the new coronavirus and a plunge in oil prices. The Ibovespa index quickly climbed 6.5 percent before falling back to a four percent rise at 10:40 am (1340 GMT). Monday's losses in Latin America's biggest exchange were the worst since 1998. Leading the recovery was the state-controlled oil giant Petrobras that crashed by around 30 percent on Monday. Early on Tuesday, its prefered stocks had climbed almost 17 percent while its common stocks were up just over 13 percent. Trading was suspended for 30 minutes on Monday after a sudden plunge of 10 percent triggered automatic circuit breakers. Although stocks briefly stabilized, they fell more by the close of business. Brazil's real also showed signs of recovery, trading at 4.68 to the dollar after having dropped to a record low of 4.79 on Monday, . js/yow/bc/jm
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  • Sao Paulo exchange rebounds from 'Black Monday' losses
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