Lula Wins Fourth Term as Brazil ETF-Linked Contract Falls 27%
Photo: TokenPost
Brazilian President Luiz Inácio Lula da Silva won a fourth term in Sunday's runoff, while early derivatives trading signaled pressure on Brazilian stocks and the real ahead of Monday's local market open. Lula won 51.8% of the vote in the runoff. The result upended market bets on a Bolsonaro victory. On Hyperliquid, a perpetual contract tied to the iShares MSCI Brazil ETF (EWZ) fell as much as 27% before the U.S. stock market opened. The contract is a crypto-market derivative linked to a U.S.-listed fund holding Brazilian stocks; its move is separate from trading in the ETF's shares.
Source: TokenPost
