Brazil Stocks Plunge Following Lula's Re-Election Victory
Brazilian stock markets dropped following Luiz Inácio Lula da Silva's re-election victory, as the outcome dealt a blow to Latin America's right.
Brazilian stock indices plunged following the re-election of President Luiz Inácio Lula da Silva, financial newspaper Investor's Business Daily reported.
Meanwhile, according to The New York Times, Lula's victory over his conservative rival delivers a major blow to Latin America's political right. The newspaper further reported that Bolsonaro rejected the election outcome.
The market downturn comes amid political friction following the official vote count. Full financial figures on the scale of market drops and further details have not yet been released.
Sources: Investor's Business Daily, The New York Times, The New York Times
Generated automatically by the Tevel desk and labelled as such.