Bolsonaro camp challenges Lula's narrow Brazilian election win

Brazilian senator Flavio Bolsonaro refused to concede defeat in Sunday's presidential election after leftist incumbent Luiz Inacio Lula da Silva won a historic fourth term by a narrow margin. Bolsonaro, son of imprisoned ex-president Jair Bolsonaro, said he would seek to annul the result over a voting extension ordered by a Lula-appointed Supreme Court justice. With all votes counted, 80-year-old Lula took 51.79 percent against his rival's 48.21 percent, a lead of over 4 million votes that analysts say makes annulment unlikely. Bolsonaro's petition is undermined by his own campaign having sought a voting extension due to heavy rains in the south. Lula's victory defied polls and global anti-incumbent sentiment, halting a wave of right-wing election wins across Latin America. Financial markets reacted negatively, with a Brazil-tracking fund diving nearly 15 percent, while Lula faces a conservative Congress and economic challenges including public debt above 82 percent of GDP.