The iShares Brazil ETF fell as much as 26% after Lula da Silva defeated Flávio Bolsonaro, according to the supplied report. Prediction markets had put Flávio Bolsonaro at 80%.
The dollar jumped as much as 12% against the real, the report said.
Business
Brazil’s Stock Market Crashes After Lula’s Upset Victory
The iShares Brazil ETF fell as much as 26% after Lula da Silva beat Flávio Bolsonaro, who prediction markets had at 80%, while the dollar jumped as much as 12% against the real.
