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Nu Holdings Stock Falls After Lula Wins Brazil's Presidential Runoff
Nu Holdings, the parent company of Brazilian digital bank Nubank, saw its stock fall sharply on October 26, 2026, one day after Lula da Silva won Brazil's presidential runoff. The stock dropped roughly 36% below its January 2026 high of $18.76. Lula took the runoff with 51.8% of the vote, while his opponent, Flávio Bolsonaro, received 48.2%. The stock opened the session near $15.16 and closed around $12.59, with premarket trading showing a decline of close to 22%. The Bovespa, Brazil's benchmark stock index, also dropped by around 13% to 15%, and trading halts were reported during the session. The Brazilian real fell more than 10% against the US dollar.