Traders are bracing for steep losses across Brazilian markets Monday after President Luiz Inácio Lula da Silva pulled off a stunning comeback to defeat Flávio Bolsonaro, the right-wing candidate that many investors preferred.

Source: [Bloomberg Markets](https://www.bloomberg.com/news/articles/2026-10-26/brazil-markets-brace-for-rout-on-lula-s-improbable-election-win)

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