Brazil shows the US what a real political crisis looks like
Brazilian stocks and real crushed
The Brazilian real is down 8% while the Brazilian bovespa stock market index opened down 10%, hitting circuit breakers
The trigger was a local newspaper report that President Michel Temer was involved in a scheme to cover up for the jailed former speaker of the lower house of Congress. Evidently there is a recording of him approving a bribe.
Temer came to power after scandals surrounding former President Rousseff.