Brazilian Stocks Tumble as Lula Wins Surprise Fourth Term: Nu Holdings Sinks 25%, Petrobras Tumbles 21%, MercadoLibre Drops 15%

Debt, inflation and a hostile Congress: the economic challenges of Lula’s fourth term

Luiz Inácio Lula da Silva will begin his fourth term as Brazil’s president on January 1 with an economy that has grown more than expected and record-low unemployment, but with fiscal imbalances that markets punished heavily on Monday, the first trading day after his re-election. The dollar rose more than 12% at one point to 5.60 reais, the Ibovespa index triggered an automatic trading halt at the open and long-term interest rates jumped almost two points.

Brazilian Stocks Tumble as Lula Wins Surprise Fourth Term: Nu Holdings Sinks 25%, Petrobras Tumbles 21%, MercadoLibre Drops 15%

Lula's surprise return to Brazil's presidency blindsided investors who had positioned for the opposite outcome, and the fallout is carving deep losses into some of the most widely held Brazilian names trading in the U.S.

Brazil suffers worst selloff in decades on Lula win as Hyperliquid tokenized perp led price discovery

Lula's win prompts investor anxiety over Brazil's fiscal future, triggering significant market volatility and highlighting economic uncertainties.

US-listed Brazilian stocks sink after Lula's reelection

Major Brazilian companies and banks saw their US-listed stocks plunge on Monday as investors assessed the outcome of Brazilian presidential elections, in which Luiz Inacio Lula da Silva secured a four...