Brazilian stocks tumble after Lula’s reelection, while Argentine bonds fall

Buenos Aires Herald reports that Lula defeated Flávio Bolsonaro in Brazil’s October 25 runoff. The next day, the Bovespa fell more than 10%, prompting a 30-minute trading halt. The Herald says the EWZ fund fell 24%, while Argentine bonds on Wall Street also declined. Separately, Kobeissi Letter claimed Brazilian stocks fell 30% even as Brazil’s volatility index dropped 40%.