Brazil Election Shock Drives Global Market Volatility and Mergers
Brazil’s right-wing election lead triggered a massive rally in local assets, including a 13% surge in the iShares MSCI Brazil ETF and a 10% jump in Ambev shares. Simultaneously, major M&A activity defined the session: Schneider Electric agreed to acquire PTC for $22.6 billion, while C.H. Robinson bought RXO for $5.8 billion. The euro hit a 17-month low amid European political instability, and the U.S. services sector showed mixed signals with rising prices but contracting export orders.