Brazil ETFs fall after Lula victory

European-listed Brazilian exchange-traded funds fell on Monday after Luiz Inácio Lula da Silva defeated Jair Bolsonaro in the Brazilian presidential elections. The London-listed iShares MSCI Brazil UCITS ETF
IBZL,
+1.35%
fell 4% and the Amundi MSCI Brazil UCITS ETF
BRZ,
+1.13%
fell 3% in Paris. The iShares MSCI Brazil ETF
EWZ,
+3.88%
dropped 5% in U.S. premarket trade. Bolsonaro has yet to concede.