● LULA WIN TRIGGERS BRAZIL MARKET HALT

Brazil's stock market got blindsided by its own election. Luiz Inácio Lula da Silva won a fourth term after beating Flávio Bolsonaro in Sunday's runoff, and the Ibovespa fell 10% at Monday's open, tripping the exchange's circuit breaker and halting trading. The Brazilian real sank roughly 12% against the dollar in the same selloff. Days earlier, bettors on Kalshi had given Bolsonaro more than 75% odds of winning, leaving funds long $EWZ exposed when the result flipped.