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Market Update: Bovespa Falls for Second Week
The main Sao Paulo stock index, or Bovespa, ended virtually flat on Friday and finished the week on a sour note, as investors continued to digest the Federal Reserve’s initial steps toward removing its massively accommodative policy. The US central bank drastically raised inflation forecasts and shifted up the timeline for a rate hike. Domestically, however, traders cheered the approval by 42 votes to 37 in the Brazilian Senate of the Provisional Measure dealing with the privatization of state-owned Eletrobras. [/s2If]
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