Brazil Stocks Fall 13.88% After Lula Win as Circuit Breaker Halts Trading
Photo: TokenPost
Brazil’s benchmark Ibovespa plunged 13.88% Monday after President Luiz Inácio Lula da Silva won Sunday’s presidential runoff, prompting a 30-minute trading halt as the market repriced political risk. The index dropped to 169,516.43 points intraday, 17.34% below its previous close of 205,082.56, before ending the session at 176,608.23. B3, Brazil’s stock exchange, halted trading after the Ibovespa triggered its circuit breaker. The U.S. dollar rose 8.25% against the real to R$5.40. Lula won 51.79% of valid votes, compared with 48.21% for Sen. Flávio Bolsonaro.
Source: TokenPost
