Brazil’s supreme court said prosecutors are investigating him for obstruction of justice and corruption, and a government witness claimed his company paid $1.5 million to Temer in bribes.
Today President Michel Temer made an astonishing national address this afternoon, in which he denied his participation in bribery and denied that he would be stepping down.
Overnight, American aftermarket indicators showed extreme drops in the value of Brazilian assets, suggesting that today would be a historic day for the Brazilian market.