Brazil’s real plunges more than 8% and São Paulo stocks slump after Lula’s victory

MercoPress · 26/10/2026, 13:03:00

Brazil’s real lost more than 8% against the dollar and futures on the Ibovespa index plunged 15% on Monday, in the first session after President Luiz Inácio Lula da Silva’s victory in the election runoff, a result markets had not expected. The dollar opened up 8.64% at 5.42 reais.