Banco Santander is trading at $12.31, down 4.09%, as reports linked selling in Brazilian-exposed companies to Luiz Inácio Lula da Silva’s surprise victory in Brazil’s October 25 presidential runoff.
- Brazil is Santander’s second-largest market and contributed 15% of its 2025 earnings.
- U.S. benchmarks are modestly higher, with no indication of a broad-market explanation. Santander is scheduled to report nine-month results on October 28; no company announcement today was identified as a catalyst.