Ibovespa, the B3 index of the São Paulo Stock Exchange, has not kept pace with international stock markets since the 2022 elections.
From Oct. 28, the last trading day before the election, to Monday (Nov. 21), it fell 4.2%. Major developed and emerging market indices rose during the period.
In the first week after the elections, the index was up 3.2%, but the market's honeymoon with the government of Luiz Inácio Lula da Silva (PT, left) did not last long.
While the Ibovespa fell 4.2% since the elections, the Dow Jones in the United . . .