Follow-up: Flavio Bolsonaro Refuses to Recognize Brazil Runoff Result, Says He Will Seek Annulment as Brazil ETF Plunges Nearly 15% in Asia Trade
A new development followed Brazil's presidential runoff result: defeated right-wing Senator Flavio Bolsonaro on October 26 refused to recognize his loss and said he would ask for the result to be annulled, after President Luiz Inacio Lula da Silva won a fourth term in the October 25 runoff with 51.79% of the vote to Bolsonaro's 48.21%, a margin of more than 4 million votes in the final count. Financial markets reacted sharply on Monday: a Tokyo-listed exchange-traded fund tracking Brazil's Bovespa index dived nearly 15% in Asia trade, Brazilian stocks were on pace for one of their worst one-day declines in years, and the real weakened significantly against the dollar.
According to Reuters, Bolsonaro told journalists: "It is impossible to recognize the election results, given the circumstances under which things unfolded." He called into question a late-Sunday decision by a Lula-appointed Supreme Court justice that extended voting by two hours over alleged voter transport irregularities, and said he would ask for the result to be annulled. Analysts said the scale of his loss, trailing by more than 4 million votes, makes annulment unlikely to succeed, and noted that his own campaign had also sought a voting extension because of heavy rains in the conservative-leaning south. Observers warned that refusing to concede could spark protests; after the 2022 election, supporters of his father, former President Jair Bolsonaro, stormed government buildings, and Jair Bolsonaro later received a 27-year sentence for plotting a coup.
Speaking at a hotel in Sao Paulo late on Sunday, Lula struck a conciliatory tone: "I won't speak of national unity, because that doesn't always fit the reality of this country. No one is obliged to like the elected president, but he was put in place to govern for everyone." Lula's win defied polls and precedent, and he will now govern alongside a Congress packed with Bolsonaro allies; Carlos Melo, a political science professor at Insper in Sao Paulo, said "the challenges are countless." Investors had piled into Brazilian assets after Bolsonaro won the first round, and analysts expected those bets to unwind with aggressive repricing until the Lula government presents a credible fiscal path.
Related:
Follow-up: Final Brazil Runoff Count Complete: Lula Wins Fourth Term With 51.79%
Source: GSM News, USA
Source: GSM · USA (original Chinese edition)
Photo: 图：弗拉维奥·博索纳罗参议员官方肖像。图片：Agência Senado（巴西参议院新闻社），署名使用，经 Wikimedia Commons（裁切）。Photo: Official Senate portrait of Senator Flavio Bolsonaro. Image: Agencia Senado, attribution, via Wikimedia Commons (cropped).
- 2026-10-06Brazil Election Upset: Flavio Bolsonaro Wins First Round, Faces Lula in Oct. 25 Runoff
- 2026-10-13First Datafolha Runoff Poll: Bolsonaro Leads Lula 52 to 48 in Valid Votes
- 2026-10-17Brazil's Flavio Bolsonaro Pledges 200 Billion-Real Fiscal Adjustment Without Touching Social Spending Ahead of Oct. 25 Runoff
- 2026-10-18Lula and Flavio Bolsonaro Face Off in First Runoff Debate in Sao Paulo Tonight
- 2026-10-18Follow-Up: Lula and Flavio Bolsonaro Clash Over Crime, Probes and the Economy in First Runoff TV Debate
- 2026-10-19Lula and Flávio Bolsonaro Trade Corruption Charges in First Runoff Debate Ahead of October 25 Vote
- 2026-10-21Bolsonaro's Lead over Lula Narrows Ahead of Brazil Runoff: Flavio at 45%, Lula at 44% in First Quaest Poll After TV Debate
- 2026-10-25Follow-Up: Brazil Votes in Tight Presidential Runoff: Lula vs. Flávio Bolsonaro in a Race That Could Reshape the Region
- 2026-10-25Follow-Up: Brazil Runoff Voting Extended Two Hours: Supreme Court Justice Orders Polls Open Until 7 p.m., Vote Count Paused
- 2026-10-25Follow-Up: Brazil Runoff Count Resumes: Lula Leads Flávio Bolsonaro 51.16% to 48.84% With Over 5% Counted
- 2026-10-25Follow-Up: Brazil Runoff Count Nears Halfway: Lula Leads Flávio Bolsonaro 50.01% in Dead Heat as Lead Swings Twice
- 2026-10-25Follow-Up: Lula Widens Brazil Runoff Lead to 51.09% Over Flávio Bolsonaro With Over 75% of Sections Counted
- 2026-10-25Follow-Up: Datafolha Projects Lula Victory in Brazil Runoff as Electoral Court Count Reaches 99.79%, With Lula at 51.76%
- 2026-10-25Follow-Up: Brazil's Electoral Court Declares Lula Winner of Presidential Runoff With 51.76% at 99.86% of Sections Counted, Leading Flavio Bolsonaro by Over 4.36 Million Votes
- 2026-10-25Lula Wins: From Shoeshine Boy to a Fourth Presidential Term — The Life and Political Career of Brazil's President
- 2026-10-25Follow-Up: Leaders Congratulate Lula on Brazil Runoff Win, Mexico's Claudia Sheinbaum Says 'The Brazilian People Won'
- 2026-10-25Follow-Up: Flávio Bolsonaro Refuses to Concede Brazil Runoff, Says He Will Seek Annulment of the Vote
- 2026-10-26Brazil Runoff Final Result: Lula Wins Fourth Term With 51.79% as Bolsonaro's Son Rejects Outcome
- 2026-10-26Follow-up: Flavio Bolsonaro Refuses to Recognize Brazil Runoff Result, Says He Will Seek Annulment as Brazil ETF Plunges Nearly 15% in Asia TradeThis story
- 2026-10-28Follow-Up: Trump Says He Approves of Brazil's Flávio Bolsonaro Coming to the U.S.; State Department Official Says Entry Visas Will Be Granted to Him and His Family
- 2026-10-28Follow-Up: Flavio Bolsonaro Arrives in Miami, Greeted by Brother Eduardo, as His Brazilian Passports Are Cancelled
