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Brazil markets tumble as President Bolsonaro pivots to interventionism, Petrobras shares plunge 16% Shares in Brazilian state oil company Petrobras plunged 16 percent after President Jair Bolsonaro changed the company s chief executive (AFP)Premium . Updated: 22 Feb 2021, 07:33 PM IST Bloomberg The real fell 2.2% at open, breaching the key 5.5 per dollar level that had been serving as support for the currency There was no room to discuss the move that shows a president increasingly impatient with the government’s inability to appease his political base Share Via Read Full Story Brazilian markets sank on Monday as investors saw Jair Bolsonaro’s move on the country’s state-controlled oil company as the latest sign the far-right president is willing to sacrifice the market-friendly policies sponsored by his economy minister to boost his popularity.

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