Markets Rebound as Brazilian Impeachment Back on Track
It’s getting real. Brazil’s economy was thrown into turmoil last night when investors eager to see President Dilma Rousseff removed from office — hoping that it might reverse the country’s massive recession — saw a congressional leader call to annul an earlier impeachment vote. The real dropped as much as 4.6 percent at the news, but looks set to recover after Speaker Waldir Maranhão released a new statement canceling (but not explaining) his earlier attempt to annul. The impeachment vote could come as soon as tomorrow.