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  • The Sao Paulo stock exchange closed down 10.35 percent Wednesday after temporarily halting trading for the sixth time in eight sessions as the coronavirus pandemic continued to batter world markets. The Ibovespa index's latest free-fall triggered circuit breakers that temporarily suspend trading in case of a massive sell-off, but the half-hour pause did not restore traders' confidence. Despite the announcement of economic stimulus measures in Brazil, as well as the United States and Europe, Latin America's largest stock exchange hit its lowest level since 2017. The Ibovespa has now lost 44 percent since it hit its all-time high on January 23, the day the spreading outbreak led China to place Wuhan province under quarantine. The biggest losers included travel company CVC, which closed down nearly 35 percent, and airline Azul, which closed down more than 32 percent. The Brazilian real closed at a new record low, weakening nearly four percent to 5.2 to the dollar. Brazil announced a stimulus package Monday night of 147 billion reals (nearly $30 billion) in emergency spending to stave off the impact of the pandemic. But despite such measures in Brazil and beyond, the pandemic continued to fuel fears of a deep global recession. bur-jhb/ft
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  • Brazil stocks plunge in new virus rout
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