Brazil Markets Stumble With Jitters Over Lula Election Odds

Brazilian markets slumped Tuesday on a poll that showed President Luiz Inacio Lula da Silva ahead in next year’s election, leaving investors increasingly wary about the outlook for Latin America’s largest economy.

Lula leads against all potential challengers in first-round and runoff scenarios, according to the survey from Genial/Quaest. The president would take 41% of votes against 23% for Flavio Bolsonaro and 10% for Tarcisio de Freitas, who investors favor, in a first-round race in which both conservative politicians ran.