Lula Wins Brazil Presidency With 51.8% in Runoff — SkimNews
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- Lula won Brazil's presidential runoff with 51.8% of valid votes, defeating Flávio Bolsonaro who received 48.2%, according to the Superior Electoral Court.
- Lula became the first candidate since 1989 to win a Brazilian presidential runoff after losing the first round, marking a historic political comeback.
- The Superior Electoral Court extended voting by two hours due to reported voter suppression, including suspended public transportation in key areas, following requests from both campaigns.
- Brazil's iShares MSCI ETF (EWZ) dropped nearly 20% in overnight trading following Lula's victory, reflecting immediate market concern over his return to power.
- Lula, at 80 years old, will govern from 2027 to 2030 with a divided Congress, where Bolsonaro's Liberal Party holds the largest bench in decades and fiscal challenges loom.
Why it matters: Lula’s victory shifts Brazil’s political trajectory amid deep polarization, with investors reacting sharply—EWZ plunged 20%—and his administration facing a hostile Congress and $1.3 trillion in public debt. The result defies recent Latin American rightward trends, altering regional dynamics.
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