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Brazil stock market hit by $126B sell-off triggered by Lula's re-election, funds warn downturn is far from over
The Brazilian stock market has suffered a $126 billion sell-off triggered by Lula's re-election, with funds warning that the downward trend is not over yet. According to Bloomberg, Brazilian assets have faced a wave of selling following the re-election of Luiz Inácio Lula da Silva, and several major fund managers have stated that the sell-off—which has already erased months of gains—could deteriorate further.
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