Foreign investors withdrew a net R$18.11 billion ($3.5 billion USD) from the B3 stock exchange in São Paulo in August, marking the largest monthly capital outflow of the year and demonstrating how political uncertainty ahead of the upcoming election is directly pricing Brazilian assets. The significant pull-back of foreign capital from Brazil's main stock exchange, which is home to the country's largest publicly traded companies, was directly attributed to rising investor concern over the presidential election outcome and persistent domestic fiscal risks.