Business & Markets
Sao Paulo stocks plunge 17% after Lula re-election
The Sao Paulo stock exchange plunged nearly 17 percent at the opening on Monday after Brazilian President Luiz Inacio Lula da Silva won re-election against conservative Flavio Bolsonaro.
The fall in the Ibovespa index triggered a 30-minute suspension of trading. B3, the exchange operator, said it activated a circuit breaker mechanism used during periods of steep market decline.
The US dollar rose 12 percent against Brazil's currency, the real.
Update
The US dollar surged 12 percent against Brazil's real.
Luiz Inacio Lula da Silva defeated conservative Flavio Bolsonaro.
Source note: AFP news report published on 26 October 2026 at 14:05:35 UTC.
Update
The Sao Paulo stock exchange plunged nearly 17 percent after Luiz Inacio Lula da Silva's victory.
Source note: AFP news report published on 26 October 2026 at 13:53:55 UTC.
Source
AFP news report published on .