Luiz Inácio Lula da Silva secured a fourth term as Brazil's president with 51.76% of the vote, defeating Flávio Bolsonaro. Following his victory, Lula pledged to regulate digital platforms, specifically accusing Meta of algorithmic bias during the campaign. Meanwhile, Flávio Bolsonaro has refused to concede, calling for the election's annulment based on alleged judicial irregularities.
The decline in Asian trading followed gains ahead of the vote, as Lula’s victory refocused attention on public debt and limited room for maneuver in the budget.
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