Brazil stock index futures plunge after Lula win

Futures ‌of Brazil's benchmark ​stock index Bovespa ‌fell nearly 15% in early Monday trading after ‌leftist President Luiz ‌Inacio Lula da Silva defeated right-wing Senator Flavio ⁠Bolsonaro ​in ⁠an election runoff, defying polls ⁠to secure a ​fourth non-consecutive term.

Interest rate ⁠futures rose sharply after ⁠Lula's win, ​with January 2031 contracts soaring ⁠182 basis points.