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 Brazilís Markets Plunge as Hush Money Scandal Threatens Corrupt President Temerís Reforms

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PostSubject: Brazilís Markets Plunge as Hush Money Scandal Threatens Corrupt President Temerís Reforms   Fri May 19, 2017 2:49 am

Brazilian markets plummeted on Thursday as allegations that President Michel Temer condoned bribes to silence a key witness deflated investor optimism about the prospects for his ambitious pension and labor reform agenda.

Brazil's benchmark Bovespa stock index closed 8.8% lower, its biggest daily decline since the 2008 financial crisis. Trading had been halted for an hour after a 10% drop triggered a circuit-breaker mechanism.



http://fortune.com/2017/05/18/brazil-markets-temer-scandal-reform/?xid=gn_editorspicks&google_editors_picks=true
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Brazilís Markets Plunge as Hush Money Scandal Threatens Corrupt President Temerís Reforms

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