Lula secures fourth term as Brazilian stocks plunge
Luiz Inácio Lula da Silva has won a fourth term as Brazil's president, defeating Senator Flávio Bolsonaro in a runoff vote. The 80-year-old leftist secured 51.8% of valid votes to Bolsonaro's 48.2%, according to the Superior…
Luiz Inácio Lula da Silva has won a fourth term as Brazil's president, defeating Senator Flávio Bolsonaro in a runoff vote. The 80-year-old leftist secured 51.8% of valid votes to Bolsonaro's 48.2%, according to the Superior Electoral Court, in a contest that split the country almost evenly. Lula, who had trailed in the first round, is set to govern from 2027 to 2030. His victory blocks a rightward shift in Latin America that U.S. President Donald Trump has backed.
The political outcome carries significant implications for Lula's upcoming administration. He faces a Congress where Bolsonaro's Liberal Party holds the largest bench in decades. Additionally, he must address public debt that requires stabilization. Markets reacted sharply to the election results. The iShares MSCI ETF tracking Brazilian stocks plunged nearly 20% following Lula's win.
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