LATIN American stocks, bonds and currencies were pounded down to new lows yesterday (Thursday) as fears of a Brazilian devaluation sparked a multi-billion dollar exodus from the country by panicking locals and foreigners. Russia's woes faded into the background and Brazil came to the fore as the focus of emerging market panic as a $2bn+ net outflow of funds sent its stockmarket plunging 15.8%, its biggest one day percentage drop in 11 years.
September 11, 1998