Rio de Janeiro, Brazil, Oct 26, 2026 (AFP) - Lula win rattles Brazil markets over spending spree fears

NAMPA / AFP

2026-10-27

The reelection of Brazilian leftist Luiz Inacio Lula da Silva rattled markets on Monday as investors, who had expected a win for his conservative rival, worried about fiscal discipline. Sao Paulo's stock exchange, which had soared to new highs after Flavio Bolsonaro received the most first-round votes earlier this month, plunged 17 percent before slightly recovering to end the session down almost 14 percent. The sharp decline in the benchmark Ibo......

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