Brazilian Stocks Tumble as Lula Wins Surprise Fourth Term: Nu Holdings Sinks 25%, Petrobras Tumbles 21%, MercadoLibre Drops 15%

Brazil’s surprise election result is hitting the country’s U.S.-listed companies hardest where government policy and borrowing costs carry the most weight. Nu Holdings (NYSE:NU) stock is down 25% to $11.30 in morning trading, a drop that marks the market’s toughest verdict on Brazil’s financial-services outlook. Meanwhile, Petrobras (NYSE:PBR) stock is sliding 21% to $20.54, trailing […]