According to CoinMeta, the Brazilian elections had a significant impact on financial markets. The IBOVESPA index broke through 200,000 points for the first time on Monday, with a single-day increase of over 10%, marking the highest single-day gain of the year. Right-wing leader Jair Bolsonaro unexpectedly led ahead of President Lula in the first round of elections, receiving 47.03% of the valid votes. According to data from Brazil's Supreme Electoral Court, Lula received 45.16% of the votes, and the two will compete in a runoff on October 25th. The election results challenged late polls and immediately triggered a re-pricing of Brazilian assets. The EWZ fund, listed in the United States and tracking Brazilian stocks, rose by nearly 13% in pre-market trading. Brazil's currency, the real, also saw a substantial increase, while the US dollar tumbled by 5% today. JPMorgan Chase stated that Brazilian stocks could rise by 11% in the short term, while the US dollar may continue to fall. Despite the market rebound, the elections are not over yet, and investors have begun to focus on post-election fiscal policies.