Brazil markets fall after Lula's win
The Bovespa fell after Lula's victory. Investors are watching his fiscal plans.
Why it matters: Lula's spending choices will affect Brazil's borrowing costs.
Sources: CNBC · See it on the globe
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The story so far · 3 days, October 19 to 27, 2026
Brazil markets fall after Lula's win
One Turn followed this story across 3 editions, from São Paulo, Brazil on October 19, 2026. Newest first.
Lula faces a Congress dominated by opposition.
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- Lula and Flávio Bolsonaro trade insults in Brazil run-off debate
- Brazilian stocks and currency plunge after Lula win
- Brazil markets fall after Lula's win
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Brazilian stocks and currency plunge after Lula win
Brazil's main stock index fell as much as 17% and trading halted. The real lost more than 8% against the dollar. Investors cited worries about government spending and debt.
Why it matters: A sharp fall in Brazil's currency and stocks raises import costs and unsettles other emerging markets.
Sources: Al Jazeera, CNBC, MercoPress · See it on the globe
Lula and Flávio Bolsonaro trade insults in Brazil run-off debate
In their first televised debate before the 25 October run-off, President Lula and Senator Flávio Bolsonaro called each other liars and threats to democracy. Lula asked whether his rival would apply Milei-style spending cuts.
Why it matters: The result will set the direction of Latin America's largest economy.
Sources: BBC News, MercoPress, Buenos Aires Times · See it on the globe