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Brazil Markets Hit by Worries About Government Spending

Brazil Markets Hit by Worries About Government Spending

SAO PALO–The stock market in Brazil has fallen by about $70 trillion this week, as President Jair Bolsonaro made a move to finance new assistance for the poor through a change to a Constitutional Spending Cap. This is a key element of Brazil’s fiscal policy.

Brazil’s currency, The Real, fell to a seven month low on Friday. It traded at 5.7 dollars to the dollar while the stock market in the country has lost approximately 10% this Week, dropping to its lowest point in nearly a year.

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