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The Ibovespa plunged 13.7% to close at 176,906 on Monday as Brazilian assets sold off following President Lula’s victory over Flávio Bolsonaro in the presidential runoff. The decline reversed gains after the first round, when Bolsonaro outperformed polls and finished ahead of Lula. Investors had viewed a Bolsonaro admi
The Ibovespa plunged more than 16% to below 172,000 on Monday as Brazilian assets sold off following President Lula’s victory over Flávio Bolsonaro in the presidential runoff. The decline reversed the optimism that had supported markets since the first round, when Bolsonaro outperformed polling estimates and finished a