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Brazilian Markets Face Selloff After Lula Wins

Brazilian assets declined after President Luiz Inacio Lula da Silva secured reelection. Investors expect market volatility and are closely watching his upcoming fiscal plans.

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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 President Luiz Inacio Lula da Silva won reelection, defeating right-wing Senator Flavio Bolsonaro and setting up a test for financial markets as investors prepare to unwind recent bets. November futures for the real dropped 10% in Asian trading.
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