Brazilian stocks sink amid crippling truckers' strike

27 May, 2018

Brazil's main stock market fell to a five-month low and its real currency weakened on Friday as the fifth day of a truckers' protest over fuel prices hobbled a wide range of industries from aviation to agribusiness. The key auto sector ground to a halt, as did Santos, Latin America's largest port, while grocers' aisles went understocked and long lines formed outside gas stations.
In the afternoon, the federal government authorized the military to clear highways by force, while Sao Paulo, South America's largest city, declared a state of emergency. Brazil's benchmark Bovespa sank 1.59 percent, while the real weakened 0.70 percent. Mexican stocks also suffered on Friday as the benchmark S&P BMV/IPC index dropped 0.73 percent, extending a six-week fall. The Mexican peso strengthened 0.10 percent.

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