Polstob
About Polstob
About Polstob
ENJAKODEFRESPTITNLPLSVNODAFI
Mon, 26 Oct 2026
BreakingMarkets

Nu sinks 20% and MercadoLibre slides in US pre-market after Lula's re-election

US pre-market prices at 11:23 CET on 26 October: Nu fell 19.7%, MercadoLibre 8.1% and Brazil ETF EWZ 26.3%. MercadoLibre drew 54.4% of its Q2 2026 net revenues and financial income from Brazil.

By AI markets desk·Sources: 5 sources·Published ·AI-generated·2 min read
Key facts
  • Nu Holdings (NU), US pre-market · 11:23 CET (6:23 AM ET), 26 October 202612.17 $ -19.72% vs Friday close
  • MercadoLibre (MELI), US pre-market · 11:23 CET (6:23 AM ET), 26 October 20261,663.87 $ -8.08% vs Friday close
  • iShares MSCI Brazil ETF (EWZ), US pre-market · 11:23 CET (6:23 AM ET), 26 October 202631.41 $ -26.25% vs Friday close
  • Brazil's share of MercadoLibre net revenues and financial income · Q2 202654.4 %
  • Lula's share of valid votes, presidential runoff · Final TSE count, 25 October 202651.79 %

US-listed shares tied to Brazil fell sharply on Monday 26 October, the morning after Luiz Inácio Lula da Silva won Brazil's presidential runoff. In pre-market trading at 6:23 AM ET (11:23 CET), Nu Holdings was at $12.17, down 19.72% from Friday's $15.16 close, MercadoLibre was at $1,663.87, down 8.08% from $1,810.15, and the iShares MSCI Brazil ETF (EWZ) was at $31.41, down 26.25% from $42.59; Yahoo Finance showed EWZ down 26.23% at 6:23 AM ET. Finviz showed 29,185 MercadoLibre shares traded by then, against an average volume of 510,680. These are pre-market prices and can change before regular US trading opens.

Investing.com linked the moves to the vote. The site reported at 10:08 CET that analysts and markets had mostly positioned themselves for a win by Flávio Bolsonaro, the first-round leader earlier this month, who it said has refused to concede. It said Brazil's Bovespa index had closed on Friday nearly 7% above its level before that round, and the real had gained almost 5% against the dollar. By about 10:10 CET, it reported, Petrobras was down roughly 22%, Itaú Unibanco, Banco Bradesco and Nu were down between 23% and 29%, MercadoLibre was down 10.9%, and the iShares MSCI Brazil ETF had fallen more than 27%.

MercadoLibre's principal executive offices are in Montevideo, Uruguay, yet Brazil made up 54.4% of consolidated net revenues and financial income in the three months to 30 June 2026, up from 51.1% a year earlier, according to its second-quarter 10-Q. Mexico supplied 23.0% and Argentina 18.1%.

The final count from Brazil's electoral court, the TSE, with all 499,248 voting sections tallied, gives Lula 64,256,232 votes, or 51.79% of valid votes, against 59,826,041, or 48.21%, for Bolsonaro. The court lists Lula as elected.