Lula's reelection in Brazil: real falls 8%, Bovespa crashes 13.9%

Luiz Inácio Lula da Silva won the second round of Brazil's presidential election and secured reelection. Markets reacted with sharp selloffs: the Brazilian real lost 8% against the dollar, and the main stock index Bovespa fell 13.9% — the worst result for the real in 27 years, according to Financial Times.

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