Brazil's CVM watchdog opens second probe into Petrobras shakeup

Brazil's market regulator CVM said on Tuesday it has opened a second investigation into the announced shakeup at state-controlled oil giant Petrobras , which triggered a two-day share selloff that wiped more than 100 billion reais ($18.3 bln) off its value.

CVM on Monday had announced the opening of an investigation on the change of leadership that Brazilian President Jair Bolsonaro announced on Friday in a social media posting. The commission said it opened a second investigation in response to an investor's complaint.