Luiz Inacio Lula da Silva has won the Brazilian election, narrowly beating Jair Bolsonaro, official figures show.
It has been Brazil’s most polarised election in recent memory, pitting far-right incumbent President Bolsonaro against leftist former leader Lula da Silva.
On his victory, Mr da Silva tweeted a simple picture of his hand over the Brazilian flag and the word: “Democracy.”
It is a stunning return to power for Mr da Silva, 77, whose 2018 imprisonment over a corruption scandal sidelined him from that year’s election, paving the way for then-candidate Mr Bolsonaro’s win and four years of far-right politics.
Image: Luiz Inacio Lula da Silva
Mr da Silva’s convictions were annulled, but he faced an uphill battle, when he decided to re-run for president, with many millions of Brazilians continuing to believe he was corrupt.
His victory marks the first time since Brazil’s 1985 return to democracy that the sitting president has failed to win reelection.
‘Time of hope and future’
More on Brazil
Related Topics:
Colombian president Gustavo Petro wrote: “Viva Lula,” while Argentina’s leader Alberto Fernandez said the victory ushered in a new era “for the history of Latin America”.
He added: “A time of hope and future begins today.”
Advertisement
Brazil’s Supreme Electoral Court’s count showed it was a close contest – Mr da Silva polled 50.8% of votes compared with 49.2% for Mr Bolsonaro, with 98.8% of voting machines counted.
The election, in the world’s fourth-largest democracy, served as a referendum on two starkly different – and vehemently opposed – visions for Brazil’s future.
Mr Bolsonaro vowed to consolidate a sharp rightward turn in Brazilian politics after a presidency that witnessed one of the world’s deadliest outbreaks of COVID-19 and widespread deforestation in the Amazon basin.
Image: Jair Bolsonaro
Mr da Silva promised more social and environmental responsibility, evoking the rising prosperity of his 2003-2010 presidency, before corruption scandals tarnished his Workers’ Party.
More than 120 million Brazilians were expected to cast ballots, with the vote conducted electronically.
There are also fears Mr Bolsonaro could challenge the election results should he lose – much like former US President Donald Trump.
For months, he claimed the nation’s electronic voting machines are prone to fraud, though he never presented evidence.
The new president, known universally as Lula, will be sworn in on 1 January 2023.
Worldwide stock markets have plummeted for the second day running as the fallout from Donald Trump’s global tariffs continues.
While European and Asian markets suffered notable falls, American indexes were the worst hit, with Wall Street closing to a sea of red on Friday following Thursday’s rout – the worst day in US markets since the COVID-19 pandemic.
All three of the US’s major indexes were down by more than 5% at market close; The Dow Jones Industrial Average plummeted 5.5%, the S&P 500 was 5.97% lower, and the Nasdaq Composite slipped 5.82%.
The Nasdaq was also 22% below its record-high set in December, which indicates a bear market.
Ever since the US president announced the tariffs on Wednesday evening, analysts estimate that around $4.9trn (£3.8trn) has been wiped off the value of the global stock market.
More on Donald Trump
Related Topics:
Mr Trump has remained unapologetic as the markets struggle, posting in all-caps on Truth Social before the markets closed that “only the weak will fail”.
The UK’s leading stock market, the FTSE 100, also suffered its worst daily drop in more than five years, closing 4.95% down, a level not seen since March 2020.
And the Japanese exchange Nikkei 225 dropped by 2.75% at end of trading, down 20% from its recent peak in July last year.
Image: US indexes had the worst day of trading since the COVID-19 pandemic. Pic: Reuters
Trump holds trade deal talks – reports
It comes as a source told CNN that Mr Trump has been in discussions with Vietnamese, Indianand Israelirepresentatives to negotiate bespoke trade deals that could alleviate proposed tariffs on those countries before a deadline next week.
The source told the US broadcaster the talks were being held in advance of the reciprocal levies going into effect next week.
Vietnam faced one of the highest reciprocal tariffs announced by the US president this week, with 46% rates on imports. Israeli imports face a 17% rate, and Indian goods will be subject to 26% tariffs.
Please use Chrome browser for a more accessible video player
China – hit with 34% tariffs on imported goods – has also announced it will issue its own levy of the same rate on US imports.
Mr Trump said China “played it wrong” and “panicked – the one thing they cannot afford to do” in another all-caps Truth Social post earlier on Friday.
Later, on Air Force One, the US president told reporters that “the beauty” of the tariffs is that they allow for negotiations, referencing talks with Chinese company ByteDance on the sale of social media app TikTok.
Please use Chrome browser for a more accessible video player
6:50
Tariffs: Xi hits back at Trump
He said: “We have a situation with TikTok where China will probably say, ‘We’ll approve a deal, but will you do something on the tariffs?’
“The tariffs give us great power to negotiate. They always have.”
Global financial markets gave a clear vote of no-confidence in President Trump’s economic policy.
The damage it will do is obvious: costs for companies will rise, hitting their earnings.
The consequences will ripple throughout the global economy, with economists now raising their expectations for a recession, not only in the US, but across the world.
The court ruled to uphold the impeachment saying the conservative leader “violated his duty as commander-in-chief by mobilising troops” when he declared martial law.
The president was also said to have taken actions “beyond the powers provided in the constitution”.
Image: Demonstrators stayed overnight near the constitutional court. Pic: AP
Supporters and opponents of the president gathered in their thousands in central Seoul as they awaited the ruling.
The 64-year-old shocked MPs, the public and international allies in early December when he declared martial law, meaning all existing laws regarding civilians were suspended in place of military law.
Image: The court was under heavy police security guard ahead of the announcement. Pic: AP
After suddenly declaring martial law, Mr Yoon sent hundreds of soldiers and police officers to the National Assembly.
He has argued that he sought to maintain order, but some senior military and police officers sent there have told hearings and investigators that Mr Yoon ordered them to drag out politicians to prevent an assembly vote on his decree.
His presidential powers were suspended when the opposition-dominated assembly voted to impeach him on 14 December, accusing him of rebellion.
The unanimous verdict to uphold parliament’s impeachment and remove Mr Yoon from office required the support of at least six of the court’s eight justices.
South Korea must hold a national election within two months to find a new leader.
Lee Jae-myung, leader of the main liberal opposition Democratic Party, is the early favourite to become the country’s next president, according to surveys.