Brazil's Bolsonaro Party Concedes Lula's Reelection
Brazil's Liberal Party, led by conservative candidate Flavio Bolsonaro, conceded Monday to President Luiz Inacio Lula da Silva's surprise reelection, despite Donald Trump calling the vote "rigged." Flavio Bolsonaro has not formally conceded and plans to challenge Lula's candidacy in court. Lula, turning 81 Tuesday, won a fourth unprecedented term by four points, galvanizing the left in Latin America's largest nation. Flavio Bolsonaro was ordered to surrender his passports and barred from leaving the country amid a corruption probe. Global leaders, including the EU, France, Russia, China, and India, congratulated Lula. Brazilian markets fell nearly 14% Monday over concerns about his promised social spending and fiscal discipline.