A closer look at “Brazil Stocks Plunge 26% as Lula’s Victory Shocks Markets, Real Tumbles | Nova Global News”, exactly as the source publishes it. Brazil’s financial markets reeled on Monday after Luiz Inácio Lula da Silva defeated incumbent Jair Bolsonaro in a runoff election that defied prediction markets, which had priced in an 80% chance of a Bolsonaro win. The iShares MSCI Brazil ETF (EWZ) plunged as much as 26% in early trading, while th The iShares MSCI Brazil ETF (EWZ) plunged as much as 26% in early trading, while the Brazilian real weakened sharply, with the U.S.
dollar jumping as much as 12% against the currency. The selloff reflects investor fears that Lula’s leftist economic agenda—including higher social spending and a more interventionist state—could undermine fiscal discipline and slow market-friendly reforms. Bolsonaro’s loss also removes a leader seen by many investors as pro-business, despite his controversial tenure. For the complete material, the listing points back to the source inside the network.