🇧🇷 BREAKING: Brazil’s markets CRASH -20% as socialist candidate Lula Da Silva defeats Flavio Bolsonaro to secure a historic fourth Presidential term. The iShares MSCI Brazil ETF plunged nearly 20% in overnight trading, as investors reacted to Lula da Silva’s shock runoff victory over Flávio Bolsonaro. Lula secured roughly 51.8% of the vote in an unprecedented comeback after finishing second in the first round. Markets had been pricing in a potential shift toward tighter fiscal policy under Bolsonaro. The selloff reflects fears over Brazil’s fiscal outlook, government spending and debt, with investors now watching Lula’s economic policy signals closely.