Brazil ETF EWZ Falls 20% In A Day After Lula Wins A Fourth Term
Brazil ETF EWZ fell 20% the day after Lula's runoff win as shares and the real fell together. Banks led; exporters held up. Its P/E is now 9.3x.
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Why It Matters
Brazil's stock fund dropped a lot when voters chose their leader. When people worry about a country's choices, they sell stocks there first.
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Source: Benzinga · Read the original report at the publisher. Headline and figures shown for context; data may be delayed.
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