Brazil Stocks Dive As President Lula Wins Re-Election

Brazil stocks are plunging as Brazilian President Luiz Inácio Lula da Silva narrowly won re-election in Sunday’s runoff vote vs. Senator Flávio Bolsonaro. The iShares MSCI Brazil ETF (EWZ) crashed nearly 20% early Monday on Robinhood. State-owned oil giant Petrobras (PBR) plunged 16%. Latin American e-commerce and payments giant MercadoLibre (MELI), with Brazil its biggest market, slumped 7%. Low-cost financial…

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