• Both the Brazilian real and stock market have been declining.
• The benchmark Sao Paulo stock market index has declined 0.35% in afternoon.
• The value of the Real has decreased by 1.05% versus the dollar.

The Brazilian real and stock market have been declining, after supporters of far-right former President Jair Bolsonaro stormed government facilities in the nation’s capital Brasilia.

The benchmark Sao Paulo stock market index has declined 0.35% in afternoon trading, while the value of the Real has decreased by 1.05% versus the dollar.

Economist Andre Perfeito told Media outlet “an institutional crisis is taking place and this should have an effect on the price of financial assets”.

“It is reasonable to assume that the perception of risk rises and thus interest rates should rise with effects on the stock exchange and other assets”.

“The situation will probably be overcome, but it will be tense days in the markets and in the nation”, he added.

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