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Brazilian stocks listed in US plunge following election of President Luiz Inácio Lula da Silva

Investing.com +1 · ·by G4L

PBR Petroleo Brasileiro SA Petrobras ADR
$18.28 -0.38%
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SAN +0.80%BBD BBD -2.28%
  1. 1President Luiz Inácio Lula da Silva secured a historic fourth term with a surprise victory.
  2. 2Petrobras shares plummeted approximately 22% in pre-market trading in the US.
  3. 3Shares of Itaú Unibanco, Bradesco, and Nu fell between 23% and 29%.

So what's the key point?

Brazilian stocks listed in the US dropped significantly following the election of a new Brazilian president. Bank stocks such as Itaú Unibanco fell by nearly 29%.

Source Investing.com +1 · View original ↗

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