Stocks in Brazil Fall 1%

Brazil's benchmark Bovespa stock index closed 1% lower at 109082 on Wednesday, with basic materials (-2.5%), energy (-1.5%) and consumer cyclicals (-1.1%) among the worst performing sectors.

On the corporate side, shares of Vale (-3.6%) and Petrobras (-1.1%) dragged the main index lower, tracking a fall in commodities.

Meanwhile, the decisive Senate vote on the Transition PEC was also on investors' radar.

The text of the proposal was approved by the Senate Constitution and Justice Committee (CCJ) the day before, with the value for the Bolsa Família reduced from R$ 175 billion to R$ 145 billion.