Investors in Brazil were prepared for further losses on Friday after the real, stocks and bonds all slumped to lows for the year on Thursday as the political crisis surrounding President Michel Temer engulfed the nation's markets.
Fears that the government's economic growth agenda would be derailed if Temer is ousted were vented on the Latin American nation's markets.
Stock market slumps
Stock market trading was briefly halted on Thursday after the Ibovespa index fell more than 10%, triggering a circuit breaker.
The index eventually closed 8.8% lower at 61,597.06 – its biggest loss in nine years to its lowest level this year. Banks and energy providers were among the biggest losers as Banco do Brasil shed 19.9%, while CEMIG tumbled 20.4%.
Real and bonds slide
Brazil's currency, the real, slid 7% to 3.3758 against the US dollar – its worst daily performance since 1999 – despite interventions from the country's central bank.
Meanwhile, bond yields on Brazil's benchmark 10-year bonds jumped their most since 2013 as prices – which move inversely to yields – slumped.
The losses came as calls for Temer's resignation followed allegations of bribery. Brazil's president has pursued a fiscal reform agenda aimed at releasing the country from its most severe recession in history.