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Brazil's former president Michel Temer arrested - source

President of Brazil Michel Temer
Ricardo Botelho | BrazilPhotoPress | LatinContent | Getty Images

Brazil's former president Michel Temer was arrested on Thursday as part of the sweeping anti-corruption investigation known as "Car Wash", a source involved in the case told Reuters.

Temer was president from 2016 to 2018, taking office following the impeachment of Dilma Rousseff.

In late morning trade the benchmark Bovespa index was down 1.7 percent, Brazil's real was down around 1 percent at 3.8175 per dollar, and Brazil's 10-year bond yield was up 17 basis points at 8.88 percent.

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