Peru Stocks Tumble as Presidential Vote Spooks Investors
- Castillo unexpectedly pulls ahead of Soto in partial count
- Investors price in more risk as leftist Castillo leads count
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Peruvian stocks dived after initial results from Sunday’s presidential election unexpectedly showed a little-known school teacher whose party praises Cuba’s former leader Fidel Castro in first place.
Leftist Pedro Castillo had 19% of valid votes with 91% of ballots tallied on Monday afternoon. Just a week ago, polls showed him in sixth place. Keiko Fujimori, an ex-legislator currently out on bail, trailed him with 13.3%. Former central banker Hernando de Soto was third with 11.8%.