Brazil Markets Thrown Into Disarray as Impeachment Vote Annulled
- Interim lower house chief annuls vote that backed impeachment
- Senate chief says impeachment procedure will continue
Rousseff's Impeachment Vote Annulled by Lower House Chief
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Brazilian markets were thrown into turmoil after the effort to impeach President Dilma Rousseff appeared to hit a roadblock, spurring concern that some of the world’s biggest stock and currency rallies would be undone.
The Ibovespa stock benchmark plummeted as much as 3.5 percent and the real weakened as much as 4.6 percent, the most since September 2011, before paring some of those losses. The selloff was sparked after the interim chief of Brazil’s lower house called for a new vote on the impeachment, accepting an argument by the attorney general that the ballot last month had procedural irregularities. The Senate decided to continue with the impeachment process.