Real Sinks With Bank Stocks After Brazil Cut Further Into Junk

  • S&P cites lack of progress on measures to reduce deficits
  • Turmoil seen continuing even after impeachment verdict

The real declined and Brazil’s bank stocks slumped after Standard & Poor’s cut its ratings for the government and some of the country’s largest companies, saying that a shrinking economy and political gridlock is making investments riskier.

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