Lula wins Brazil's presidential election as Bolsonaro camp contests the result and São Paulo stocks halt
First published Mon, Oct 26
Luiz Inácio Lula da Silva has been re-elected president of Brazil, and celebrations broke out in the country's streets. The president-elect will have to govern with a Congress dominated by the centre-right, which won the legislative elections in the first round, and he has promised to take that into account.12
Jair Bolsonaro refuses to recognise the outcome. "I will not give up my Brazil," he said, while his son Flávio Bolsonaro has asked for the vote to be annulled.134
The result hit Brazilian markets: the São Paulo stock exchange fell sharply after Lula's victory and trading was suspended, while the real lost 10 percent.56
Lula's fourth term is to prioritise a fight against the big technology companies and the creation of a Ministry of Security. His comeback from a deficit to Bolsonaro was built through social media, street rallies and television.789
The result drew international reaction, and Il Fatto Quotidiano framed it as Brazil defying the United States. Celebrations were reported from Belgrade to Rio, where the Serbian student list's breakthrough was marked alongside Lula's presidency.101112
