Brazil EWZ ETF Plunges ~20% After Lula Reelection Victory

With nearly all votes counted, Lula secured 51.76% against Bolsonaro's 48.24%, triggering a sharp selloff in the Brazil-focused EWZ ETF in aftermarket trading. The market reaction suggests investor concerns over fiscal policy continuity and potential interventionism under a new Lula term. The magnitude of the drop indicates a significant repricing of Brazilian risk assets.

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