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Market Update: Bovespa Falls for Third Session
Brazils main stock index fell for the third session in a row on Monday, with the benchmark Bovespa closing below the 125,000 level for the first time since May 27, dragged by a massive selloff among consumer discretionary stocks. Investors grew concerned about a comeback of COVID-19 restrictions ahead of the June quarter earnings season in Brazil. Also, weaker oil prices weighed on Brazilian energy stocks Petrorio and Petrobras. Meanwhile, the Brazilian Economy Minister agreed to meet with businessmen throughout the current week to review the fiscal reform recently approved by Congress. [/s2If]
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