A circuit breaker is triggered when Brazil’s benchmark gauge, Ibovespa, falls 10% compared to the previous day's close. When the circuit breaker takes effect, all transactions are automatically interrupted for 30 minutes.
Stocks in Brazil’s major steel producers were all affected.
Usiminas preferred shares on the São Paulo stock exchange fell by 16.14% on Thursday, to 3.69 Reais ($1.19), while Gerdau preferred shares declined by 12.32%, to 8.97 Reais ($2.89), and CSN dropped by 12.57%, to 6.54 Reais ($2.11).
The Brazilian currency was also strongly affected by the political crisis.
The Real was trading at 3.38 Reais to $1 on Thursday, compared with 3.10 Reais to $1 the previous day, according to the reference exchange rate published by the country's central bank, Banco Central do Brasil.
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