Petrobras is trading 8.64% down at BRL 53.61 amid an election-driven repricing of Brazilian assets after President Luiz Inácio Lula da Silva’s surprise October 25 reelection. - Reuters reported concerns about Brazil’s fiscal outlook; investors unwound bets on a more fiscally conservative government. - Investors also face uncertainty about potential government influence on Petrobras’ pricing and capital allocation. - Major U.S. indexes were higher, so broad U.S. market weakness does not explain the move.