Economy
Brazilian stocks and dollar surge strongly after Lula's reelection
The Ibovespa accumulated losses of 18.1% and the dollar rose 9.1% following the president's victory, wiping out gains from the first round.
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The essentials of this story
- What happened
- The strong negative reaction of financial assets after the confirmation of Lula's victory surpassed the gains obtained by the market in the first round.
- Who is affected
- Investors, companies listed on the stock exchange, and foreign exchange market agents.
- What changes
- The Ibovespa fell to 167,922 points with estimated market losses of R$ 870 billion, while the dollar rose to R$ 5.4442.
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