LIVE, Lula re-elected in Brazil: the Sao Paulo Stock Exchange plunges on Monday; a flood of congratulations internationally, with the notable exception of Donald Trump

Luiz Inacio Lula da Silva won a historic re-election against Flavio Bolsonaro, leading to a significant drop in the Brazilian stock market and currency. Lula's victory was unexpected, causing the Ibovespa index to fall nearly 17% at opening, prompting a trading suspension. The Brazilian real depreciated sharply against the US dollar, raising concerns about Bolsonaro's attempts to contest the election results. Lula's administration aims to restore Brazil's international standing and improve relations with the US, especially if Democrats win the upcoming midterm elections. Lula's campaign effectively mobilized abstainers and utilized digital strategies to counter Bolsonaro's influence.