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To: accountclosed who wrote (14954)	1/7/1999 4:05:00 PM
From: MythMan	of 86076

Thursday January 7, 3:43 pm Eastern Time (Note: this article is ''in progress''; there will likely be an update soon.) Brazil shrs end sharply down on Minas debt freeze >>SAO PAULO, Jan 7 (Reuters) - Brazilian stocks ended sharply lower on Thursday as investors dumped shares across the board following news late on Wednesday that Minas Gerais state declared a 90-day moratorium on its federal debt payments. The blue-chip Bovespa index dropped 5.14 percent to end at 6,954 points with the market's bellwether issue Telebras preferred losing 6.49 percent to 92.20 reais. ''The market reacted very negatively to the moratorium news,'' said one local trader. ''The news also made it clear Brazil will not be able to make any mistakes,'' he said, highlighting the fact it shook international markets.<< what international market was shook, the US? come on! -nfg-

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