Brazilian markets steady after Monday's plunge as Lula team awaited

Brazilian financial markets stabilized on Tuesday after Monday's sharp selloff triggered by President Luiz Inácio Lula da Silva's election victory. The Ibovespa index fell only 0.51% to 175,710 points, while the dollar dropped nearly 1% to R$ 5.35. The calmer trading followed Monday's 13.88% stock market plunge and the dollar's largest single-day jump since January 1991. The National Treasury also intervened by repurchasing R$ 31.3 billion in government bonds across three auctions to ease pressure on future interest rates. Analysts said investors remain focused on Lula's upcoming economic team appointments, particularly the Finance Minister. Names being floated include Vice President Geraldo Alckmin and Piauí Governor Rafael Fonteles, with market participants urging a credible fiscal plan to address Brazil's growing public debt.