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Markets downbeat on Brazil's new finance minister

New Brazilian Minister of Finance Nelson Barbosa delivers a press conference in Brasilia, on December 18, 2015Brazil’s new finance minister sought to reassure investors Monday as he took the reins of the recession-hit economy, but the Sao Paulo stock market and the Brazilian real both fell. In his first full business day on the job, Finance Minister Nelson Barbosa held a teleconference with international investors, promising to practice the same fiscal discipline as his predecessor, Joaquim Levy. The Sao Paulo stock market fell 1.62 percent, and the real currency broke through the barrier of four to the dollar for the first time in two and a half months, falling 1.44 percent.

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