The Newshound

Brazil's stock market is forced to halt trading after leftist Lula's shock comeback win over Bolsonaro sparks investor panic

Flávio Bolsonaro reacts to his defeat in the Brazilian presidential election, in which Luiz Inácio Lula da Silva secured 51.7 per cent of the vote after a Supreme Court ruling extended voting hours in Bahia.
Flávio Bolsonaro reacts to his defeat in the Brazilian presidential election, in which Luiz Inácio Lula da Silva secured 51.7 per cent of the vote after a Supreme Court ruling extended voting hours in Bahia.
Jair Bolsonaro, who is serving his sentence under house arrest, lost to Lula da Silva in 2022 — no candidate trailing after a Brazilian first round has ever won a runoff.
Jair Bolsonaro, who is serving his sentence under house arrest, lost to Lula da Silva in 2022 — no candidate trailing after a Brazilian first round has ever won a runoff.

The Bovespa index plunged 10% at the opening bell on Monday, triggering the first trading suspension since March 2020. The real sank nearly 12% against the dollar, and a New York fund that follows Brazilian stocks lost as much as 26% of its value. Investors had bet on Flávio Bolsonaro and fiscal austerity. Bolsonaro is now demanding the election be annulled because polls stayed open two extra hours.

Lula, 80, overturned a first-round defeat to win 51.8%, a first in Brazilian history.

Trader Jerson Zanlorenzi called the result 'a tsunami that will hit all Brazilian assets'.

Bolsonaro says keeping polls open 'changed the rules in the middle of the game'.

MoreBBC NewsLula wins fourth term in dramatic Brazil election comebackUPILula's re-election in Brazil triggers global market sell-offNY PostBrazil markets, currency reel from leftist Luiz Inácio Lula da Silva’s election winThe Guardian‘Democracy always’: Lula vows no return to dictatorship in Brazil after election winBBC NewsHow 'Lula's Army' WhatsApp chat helped turn Brazil election aroundDaily Mail USBrazil election 'tsunami' sends currency and stock market tumblingAPLula’s win in Brazil bucks a regional shift to the right and denies Trump a powerful allyAPLula secures victory in Brazil’s election, but faces challenge as Bolsonaro contests resultsNYTBrazilian Markets Convulse After Unexpected Election ResultThe IndependentThe challenges that await Lula da Silva in his fourth term as Brazil's presidentNYTLula Wins Re-election as Bolsonaro Rejects ResultThe Jewish ChronicleAnti-Israel president Lula records upset victory in Brazilian election
Read today's full feed at The Newshound →