Sao Paulo Stock Exchange falls 7% after first case of coronavirus confirmed

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RIO DE JANEIRO (Sputnik) – The stock market of the Brazilian city of Sao Paulo (southeast) closed with a 7% drop, hours after the government confirmed the first case of the new coronavirus in this country.

Ibovespa, the main index of the Sao Paulo Stock Exchange, fell 7%, reaching 105,718 points, the entity said on its website.
All companies had losses, starting with the airlines Gol (-14.31%) and Azul (-13.30%).
It is the worst day since May 18, 2017, when the financial market reacted negatively to the disclosure of private conversations of then President Michel Temer (2016-2018) with the owner of the JBS company that made them fear for the future of the Government .

The first confirmed case of coronavirus in Brazil and Latin America is a 61-year-old man who was in northern Italy between February 9 and 21, and is now isolated at his home in the city of Sao Paulo.

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