Ambev is trading at $2.96, down 10.30%, on October 26, after Lula’s election victory over Flávio Bolsonaro triggered a sharp selloff in Brazilian assets.
- Reuters reported investors had positioned for a Bolsonaro win and expected a market repricing.
- CNBC reported U.S.-listed Brazilian shares, including Ambev, fell in premarket trading.
- U.S. indices were modestly higher, indicating the reported catalyst was Brazil-specific rather than a broad U.S. market decline.