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Shares of Brazilian companies tumbled Monday following the unexpected re-election of President Luiz Inácio Lula da Silva.
Petróleo Brasileiro S.A. - Petrobras sold off sharply after Lula's election win, but I view this as a buying opportunity, not a reason to panic. Historical returns under Lula's presidency have been strong for PBR, with no evidence of material harm to shareholder value. PBR benefits from high oil prices, strong offshore production growth, and trades at less than 4x forward earnings with a compelling dividend yield.
On Oct. 26, 2026, Anthropic's IPO filing sparked a tech rally, while Meta's $95 billion AI infrastructure plan weighed on sentiment.
Shares of Brazilian companies tumbled Monday following the surprise re-election of President Luiz Inácio Lula da Silva.
CNBC reports that Lula beat Bolsonaro 51.8% to 48.2% in Brazil's 2026 presidential election. Investors had bet Bolsonaro would win, and are upset by the result.
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Brazilian markets prepared for one outcome and received another. Luiz Inácio Lula da Silva won a fourth term in Sunday's runoff, beating Flávio Bolsonaro with 51.8% of valid votes to 48.2%, a margin of about 4.4 million ballots.
Brazil's surprise election result is hitting the country's U.S.-listed companies hardest where government policy and borrowing costs carry the most weight. Nu Holdings (NYSE:NU | NU Price Prediction) stock is down 25% to $11.