Nu Holdings down more than 20% at NYSE open as Lula leads Brazil runoff

Nu Holdings ($NU) fell more than 20% at the NYSE open after Lula's re-election, with Lula taking roughly 51.8% against Flávio Bolsonaro's 48.2%. Markets had priced in a Bolsonaro win and tighter fiscal policy, and the result triggered a broad sell-off in Brazilian assets, creating volatility for $NU and $MELI given their exposure to Brazil's currency and interest rates.

Detected & updated continuously · Source: Nebula