Brazil's Real Leads World Declines as Bonds Tumble After S&P Cut

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  • Shares of Petrobras, Itau among hardest hit in Ibovespa
  • Currency retreats to lowest level since October 2002

Brazil's Credit Rating Downgraded to Junk

Brazilian markets tumbled after Latin America’s largest economy returned to junk status as it struggles to overcome a crippling recession.

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