Lula Upset Jolts Brazil Markets, Emerging Assets Sink

Brazil's stocks, currency, and debt plunged on Monday after Luiz Inácio Lula da Silva's surprise election victory, rattling emerging-market assets. Investors reacted to the unexpected result, which dominated trading across the region. The selloff underscored concerns about Lula's economic policies, though specific figures were not immediately available. Markets will continue to assess the implications of the new government's direction.