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Brazilian Markets Drop After Lula Reelected

Brazilian markets faced a sharp selloff on Monday following the reelection of Luiz Inacio Lula da Silva. The real weakened and stock futures tumbled as investors scrutinized his upcoming fiscal plans and commitment to budget discipline.

Brazil's President Luiz Inacio Lula da Silva, the Workers' Party (PT) candidate for re-election, gestures as he addresses supporters after his victory in the presidential runoff election, at Paulista Avenue, in Sao Paulo, Brazil, October 26, 2026. REUTERS/Brian Snyder

Brazil markets tumbled on Monday, sending the real down 12% against the United States dollar after Luiz Inacio Lula da Silva won re-election. The outcome upended investor bets on a right-wing victory and thrust the president's fiscal agenda under renewed scrutiny.
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