Brazilian stocks plunge as Lula wins surprise fourth term, Nu Holdings down 25%, Petrobras 21%.

Brazilian stocks listed in the U.S. fell sharply after Luiz Inácio Lula da Silva won a surprise fourth term as Brazil's president, catching investors off guard. Nu Holdings dropped 25%, Petrobras fell 21%, and MercadoLibre declined 15%, reflecting concerns over potential tax hikes, increased regulation, and government intervention under Lula's administration. The broader Brazilian market also suffered, with the iShares MSCI Brazil ETF down 28%, signaling widespread investor uncertainty about Brazil's fiscal policies and economic outlook. Investors will be watching closely for Lula's fiscal plans and any changes in Petrobras' pricing or dividend policies to gauge future market direction.

As of Oct 26, 2026 20:31 WIB, Nu Holdings Ltd shares are down 21.08% on Pluang, closely tracking the article's noted drop but slightly less severe than the 25% fall reported. Mercadolibre Inc shares have declined 9.68%, less than the 15% drop mentioned in the news. These figures highlight significant investor caution in Brazilian stocks on Pluang, with Nu Holdings showing the most notable decline among the listed assets.