Brazilian stocks plunge after Lula's surprising election victory
FROM THE WIRE · FINANCE.YAHOO.COM
Brazilian stocks plunged premarket on Monday after the country's surprising runoff election results reversed a rally earlier this month in Brazilian assets. The president of Latin America's largest economy, Luiz Inácio Lula da Silva, secured a surprising win over right-wing…
Read at the source ↗MARKET IMPACTHIGH✦ News Impact agent estimateTone: expected bearishThe premarket plunge in the EWZ ETF could mark its biggest one-day drop since 2000, with strong repercussions for Brazilian markets.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
- 01Lula da Silva secured a surprising win over right-wing challenger Flávio Bolsonaro in Sunday's runoff.
- 02The iShares MSCI Brazil ETF (EWZ) dropped 25% early Monday.
- 03The ETF's previous record decline was 23% at the start of the pandemic in March 2020.
NEWS IMPACT AND MARKET REACTIONChange since the story · reference
Nu Holdings Ltd.15.16 USDMarket closedtoday +2.92%Negative Petróleo Brasileiro S.A. - Petrobras26.16 USDMarket closedtoday +2.11%Negative Petróleo Brasileiro S.A. - Petrobras23.53 USDMarket closedtoday +2.75%Negative Petróleo Brasileiro S.A. - Petrobras65.24 BRLMarket closedtoday +0.79%Negative Petróleo Brasileiro S.A. - Petrobras58.68 BRLMarket closedtoday +1.47%Negative iShares MSCI Brazil ETF42.59 USDMarket closedtoday +1.77%Negative
Impact and summary are estimates by the News Impact AI agent, not financial advice.Open in Markets