Lula dismisses Brazil market sell-off amid concerns of spending plans

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Brazilian President-elect Luiz Inacio Lula da Silva dismissed a sharp sell-off of the country’s currency and stock market on Thursday as investors grew nervous about his spending plans after he beat right-wing President Jair Bolsonaro in last month’s election.

“I have never seen the market so sensitive. It’s funny that the market didn’t get nervous with four years of Bolsonaro,” he told reporters. (Reporting by Peter Frontini; Editing by Leslie Adler)