Stocks in Brazil led the fall among the biggest markets after a court ruling against a movement to oust President Dilma Rousseff added to speculation that a recovery of the country’s economy will be delayed.
The Ibovespa stopped a 9-day rally after the superior court ruled against procedures laid out by lower house President Eduardo Cunha establishing a step-by-step guide to open impeachment procedures. Cunha said he’ll continue to dispatch requests as planned.
The Ibovespa fell 2.5% to 48,085.81 at 11:27 a.m. in Sao Paulo, led by lenders Itau Unibanco Holding SA and Banco Bradesco SA.
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