Lula suspends campaign after first-round loss, reassesses strategy against Bolsonaro
Brazilian President Lula da Silva has suspended his campaign after trailing in the first round of the 2026 election, facing a runoff against Flávio Bolsonaro. The result marks a significant reversal for Lula, who had expected a first-round victory. The suspension signals internal reassessment and potential strategic shifts ahead of the runoff.
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Brazil Election Runoff: Bolsonaro Leads Lula, Markets Rally on Fiscal Hopes
Flávio Bolsonaro secured 47% of the first-round vote, leading Lula (45%) and forcing a runoff on October 25. Brazilian financial markets reacted positively to Bolsonaro's stronger-than-expected performance, with equities surging, the real strengthening, and interest rates falling, driven by expectations of market-friendly fiscal policies and potential reforms. The final outcome remains uncertain, with a close runoff anticipated.