The Sao Paulo stock Exchange tumbled by almost 9%

The Sao Paulo stock exchange fell by 8.8% at the close Thursday, after the serious accusations of corruption levelled against the conservative president of the brazilian Michel Temer.

After six days of consecutive increase, the index closed at 61’597 points, compared with almost 68’000 on Wednesday night, while the activities had been suspended for half an hour shortly after opening, in the face of a decline of more than 10%.

The markets in brazil had responded as of Thursday morning, in the wake of explosive revelations involving directly the president Michel Temer, who would have been saved in the process to give its agreement to the payment of bribes.

By mid-morning, the real dévissait of 5.46 per cent, according to the consulting firm CMA in Sao Paulo.

Thunder on the stock Exchange of Sao Paulo : the other phone-hacking scandal (#Petrobras)

— isabelle couet (@icouet) may 18, 2017


Created: 18.05.2017, 15h58

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