First published Oct 26, 2026, 2:09:15 PM UTC · Last updated Oct 26, 2026, 2:09:15 PM UTC

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

In the first market session after Luiz Inácio Lula da Silva’s election runoff victory, Brazil’s real fell more than 8% against the dollar and Ibovespa futures dropped 15%.

At a glance

Affected location: São Paulo

Illustrative image: President Alberto Fernández held a meeting this noon at the InterContinental Hotel in São Paulo with the president-elect of the Federative Republic of Brazil, Luiz Inácio Lula da Silva, who yesterday won the election against Jair Bolsonaro. — Casa Rosada/Wikimedia Commons, CC BY 2.5 ar

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Why it matters

The reported currency and stock-market declines mark a sharp market reaction to the election result.

Location

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Generated scores

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Confidence: 6/10How certain the assessment is based on the clarity and evidence in the cited reporting.
Geographic reach: 4/10How widely the event reaches, from a local area (1) to worldwide impact (10).
Global importance: 3/10The event's broader significance, from limited importance (1) to major global importance (10).
Impact magnitude: 4/10The scale or severity of the real-world impact, from minor (1) to extreme (10).
Urgency: 3/10How time-sensitive the event is, from low urgency (1) to immediate attention needed (10).

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

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Related developments reported in the last 30 days. These are not necessarily ongoing incidents.

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Lula takes to the streets of São Paulo to close the gap two weeks before the runoffOct 12, 2026, 10:50 AM UTC
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