Shares of Argentine financial services holding company Grupo Financiero Galicia ADR (NASDAQ:GGAL) joined the ongoing rout of Latin American stocks Monday, falling 7.3% through 11:40 a.m. ET. Why? Next door in Brazil, incumbent President Luiz Inácio Lula da Silva appears to have beaten challenging conservative candidate Flávio Bolsonaro 51.8% to 48.2% in the second, run-off round of that country's presidential election. This came as a surprise to investors who had bet that Bolsonaro's victory in the first round of voting, earlier this year, implied a likely victory for the conservative in Sunday's contest as well. But that didn't happen.
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