Brazil's stock market lost more than 200 billion USD in value at Monday's open after Lula beat Flávio Bolsonaro in the runoff, winning 51.79% to 48.21%. The iShares MSCI Brazil ETF (EWZ) fell as much as 26%, the Ibovespa dropped as much as 17% to about 170,000 points, and the dollar rose as much as 12% against the real. B3 halted trading for 30 minutes after the Ibovespa fell 10%, its first circuit breaker since the COVID-19 pandemic. Before the vote, Polymarket and Kalshi had priced Bolsonaro's chances of winning at 82% and roughly 80%, while polls had shown a near tie. Bolsonaro said he does not recognize the result and will ask the courts to annul the election.
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Related tickers and likely impact
DXY
• NeutralRelevance: low
| Market | Currencies |
|---|---|
| Close on 10/23/2026 | 101.74 |
| Change that session | +0.11% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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