Brazil Markets Set to Plunge on Lula’s Improbable Election Win

Brazilian markets are set to plunge when local trading begins after President Luiz Inácio Lula da Silva staged a stunning comeback to defeat Flávio Bolsonaro, the right-wing candidate favored by many investors. The unexpected result is expected to trigger a major selloff as traders reassess the political and economic outlook under Lula's left-wing leadership.