Brazil ETFs fall after Lula victory


European-listed Brazilian exchange-traded funds fell on Monday after Luiz Inácio Lula da Silva defeated Jair Bolsonaro in the Brazilian presidential elections. The London-listed iShares MSCI Brazil UCITS ETF IBZL, -5.14% fell 4% and the Amundi MSCI Brazil UCITS ETF BRZ, -2.75% fell 3% in Paris. The iShares MSCI Brazil ETF EWZ, -0.57% dropped 5% in U.S. premarket trade. Bolsonaro has yet to concede.

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