Lula's surprise election win pushes Brazil's currency and markets lower, slumping soybeans and coffee
Summary
Brazilian President Luiz Inácio Lula da Silva's surprise re-election win hit the nation's currency and rattled financial markets, which had expected his opponent to win. Bloomberg reported that major agricultural commodities, including soybeans, coffee and sugar, slumped as the currency fell, a move that boosted export prospects for the crop trading giant. Investing.com reported that U.S.-listed Brazilian shares slumped after the shock win. The New York Times reported in two articles that the victory prompted a sharp reversal in financial markets. The Economist's leader, republished by Hindustan Times, said markets were dismayed by the result and that the pressure is now on the re-elected president to avoid an economic slump.
Timeline
Bloomberg
Source ↗Bloomberg reports that soybeans, coffee and sugar slumped as Lula's surprise election win hit Brazil's currency, boosting export prospects for the crop trading giant.
Investing.com
Source ↗Investing.com reports that U.S.-listed Brazilian shares slumped after the shock Lula election win.
The New York Times
Source ↗The New York Times reports that financial markets, which had expected Lula's opponent to win, sharply reversed after his re-election victory.
The New York Times
Source ↗A second New York Times article reports that Lula's re-election victory prompted a sharp reversal in financial markets that had expected his opponent to win.
The Economist
Source ↗The Economist reports that markets are dismayed by Lula's surprise win and that the pressure is on the re-elected president to avoid an economic slump.
Hindustan Times
Source ↗Hindustan Times reports, in a republished Economist leader, that markets are dismayed by Lula's surprise win and that the pressure is on the re-elected president to avoid an economic slump.
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