Lula celebrates election win as Brazil markets tumble
Markets react negatively to Lula win, plummeting Ibovespa index triggers 30-minute trading suspension on São Paulo Stock Exchange. Leer más
World leaders, with the exception of US President Donald Trump, extended their congratulations to incumbent Brazilian president Luiz Inácio Lula da Silva on his unexpected election victory on Monday. The 81-year-old leftist leader secured a substantial 51.8 percent of the vote, outpacing his far-right challenger Jair Bolsonaro's 48.2 percent.
Markets reacted negatively to the result, causing the Ibovespa index on the Sao Paulo Stock Exchange to plummet and triggering a 30-minute trading suspension. The historic win gives Lula an unprecedented fourth term as Brazil's democratically elected leader and reinforces Brazil's status as a leftist stronghold amidst a growing right-wing trend in the region.
World leaders congratulated Brazil, with Mexican President Claudia Sheinbaum stating "Long live democracy, the people of Brazil won," and China and India offering their "heartiest congratulations" to Lula.
Written by urgent.news from Buenos Aires Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
