Economy
Financial markets react to Lula's victory with surging dollar and plunging Ibovespa
Following the presidential election, the US dollar recorded its largest daily gain in 23 years, while the Ibovespa suffered its steepest drop since 2020 amid fiscal policy uncertainties.
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The essentials of this story
- What happened
- The Brazilian financial market experienced high volatility and currency devaluation following the presidential election results.
- Who is affected
- Investors, economic agents, and the newly elected government.
- What changes
- The dollar reached R$ 5.4066 and the Ibovespa dropped to 176,608.23 points, with focus now shifting to the definition of fiscal policy and the economic team.
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