Trigger-Happy Traders Fan Brazil Rout as Lula Report Sows Panic
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These days in Brazilian markets, it’s shoot first and ask questions later.
A news report triggering concern that former President Luiz Inacio Lula da Silva could be arrested as part of a sweeping corruption scandal -- a fear that was later diffused -- sent investors scrambling to dump Brazilian assets, according to interviews with half a dozen brokerages from Miami to Curitiba, Brazil.