April 24, 2020 / 3:22 PM / a month ago

Brazil stocks fall 9%, real hits new low as Justice Minister Moro quits

BRASILIA, April 24 (Reuters) - Brazilian financial markets tumbled on Friday as Justice Minister Sergio Moro resigned, accusing President Jair Bolsonaro of interfering in law enforcement affairs.

Market participants said this represented a serious political crisis, and markets reacted accordingly: the benchmark Bovespa stock market fell 9%, the real hit a new low of 5.7130 per dollar and interest rate spreads widened significantly. (Reporting by Jamie McGeever Editing by Chizu Nomiyama)

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