Brazilian Stocks Drop After Report Presidential Candidate's Plane Has Crashed

Brazil’s Ibovespa exchange in Sao Paulo was down as much as 2% following reports that a plane carrying Brazilian presidential candidate Eduardo Campos crashed on Wednesday.

Reuters reported that a Brazilian Air Force statement said air traffic lost contact with the plane as it was preparing to land. Reuters added that a police official in Santos, the city near where the crash was reported, said that there were “certainly” fatalities in the crash.

The ETF trading in New York that tracks Brazil stocks and trades under the ticker ‘EWZ’ was down as much as 1.8% following headlines of the crash.

This chart from BM&F Bovespa shows the drop in the Ibovespa stock exchange, which was down as much as 2% on Wednesday.

More to come …

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