Lula wins Brazil presidency as Bolsonaro contests result

Lula has won Brazil's presidential election with a surprise comeback, defeating Flavio Bolsonaro with 51.74% of the vote. Millions of supporters celebrated overnight, while the São Paulo stock market plunged nearly 17%, triggering a trading halt. Bolsonaro has refused to concede, announcing he will request the election's annulment over a two-hour polling extension. The Electoral Court president has ratified the vote's validity, and the move appears isolated given Lula's clear margin of victory. Lula's win marks a historic fourth presidency, achieved after losing the first round and with over 64 million votes. He now faces governing with a right-wing parliament and must address succession plans, as he cannot seek another term.