XP — -47% premarket as Lula's upset Brazil win crushes Brazilian stocks

XP Inc plunged about 47% premarket after Luiz Inácio Lula da Silva won Brazil's presidential runoff with 51.8% of the vote, beating market-favored Flávio Bolsonaro. The result reversed the rally that followed Bolsonaro's first-round lead: the iShares Brazil ETF fell about 27% premarket and the real was set to drop roughly 10%.