Brazil’s Stocks Drop as U.S. Rate Concern Adds to Corporate Woes

  • Most Brazilian companies missed estimates in second quarter
  • New York Fed chief says getting closer to time for tightening

The Ibovespa fell from its highest level since 2014 as concern that the Federal Reserve may increase U.S. interest rates sooner than previously expected added to pessimism over corporate profit while Brazil struggles to recover from recession.

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