The market was really just accompanying Wall Street. The ongoing uncertainty over U.S. interest rates was making investors reluctant, especially with Greenspan speaking near the close.
More Quotes from Gabriel Jafet:
Everyone is waiting for Wednesday, and it looks like the futures market bears have used the wait-and-see mood to sell a bit and play downwards.Gabriel Jafet
The rate hike itself was in line with expectations, though the text warning of inflation was a bit worrying.
Gabriel Jafet
It looks like the market is operating independently of Wall Street today. It is a normal fight between bulls and bears ahead of the options redemption.
Gabriel Jafet
There are expectations that the Fed will cut rates, which may allow Brazil's Central Bank to do the same.
Gabriel Jafet
The market was very nervous in the last minutes as (the tech-heavy U.S.) Nasdaq dove sharply. It was pure Nasdaq influence - nothing else.
Gabriel Jafet
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