Brazil election shock sends this BlackRock stock crashing over 20%
Photo: Finbold
Nu Holdings (NYSE: NU ) plunged more than 20% in premarket trading on Monday after Brazil’s presidential election delivered a surprise victory for incumbent Luiz Inácio Lula da Silva, triggering a broad sell-off in Brazilian stocks. The digital banking company’s shares fell to approximately $11.75, down 22.49% from Friday’s closing price of $15.16, as investors reassessed the outlook for Latin America’s largest economy. The sell-off followed Lula’s victory over right-wing challenger Flávio Bolsonaro, who had led the first round of voting on October 4.
Source: Finbold
