Ibovespa Declines With Petrobras as Political Crisis Escalates
- President Dilma Rousseff ousting bid filed by her opponents
- Petrobras contributes most to drop in stock gauge as oil falls
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Brazil’s stocks dropped for a second day, led by oil producer Petroleo Brasileiro SA, amid speculation that heightened political turmoil will deepen the nation’s economic recession.
Traders pushed down the value of equities as three high-profile lawyers filed a request to open impeachment proceedings against President Dilma Rousseff on allegations she doctored fiscal accounts. She denies wrongdoing and likens efforts to remove her from office to a coup.