🔴 Petrobras is trading 11% down after Lula's surprise reelection

Petrobras is trading 10.51% down at BRL 52.51 on October 26, following President Luiz Inácio Lula da Silva’s surprise reelection on October 25.

• Reuters reported Brazil’s markets were set for a sharp selloff as investors unwound bets on a different election outcome and scrutinized the fiscal outlook.
• The decline appears tied to broader Brazilian political and fiscal concerns, not a newly reported Petrobras-specific announcement. Higher U.S. indexes do not explain the drop.