Bovespa Falls Most in 3 Weeks as Inflation Sparks Rate Concern
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The Bovespa stock index fell the most in three weeks, led by homebuilders and banks, on concern quickening inflation will spur the central bank to raise borrowing costs.
Companies that depend on credit plunged, with Banco Santander Brasil SA, the Brazilian unit of Spain’s biggest bank, and Gafisa SA, Brazil’s second-biggest homebuilder, both falling the most since May after inflation rose to an eight-month high. B2W Cia. Global do Varejo, Brazil’s largest online retailer, completed the biggest two-day drop since August.