Brazil’s Supreme Court extends voting by two hours as Lula and Flávio Bolsonaro remain neck and neck

Brazil’s Supreme Court extended voting time by two hours on Sunday in a knife-edge presidential runoff^1,2. The contest pits Luiz Inácio Lula da Silva against right-wing senator Flávio Bolsonaro^1,5.

Bolsonaro is the presidential candidate of the Liberal Party (PL)³ and the son of the imprisoned former leader Jair Bolsonaro⁸. Both candidates cast their votes on Sunday in what has been described as the final bout of the campaign⁹.

Brazilians voted in a tight runoff that could move the politics of Latin America^3,7. Bolsonaro took a surprise lead in the first round⁴. Voting took place across the country, from São Paulo to Rio de Janeiro, in what was reported as a tight contest to the end⁷.

Why it matters to investors

The result could shift Latin America’s largest economy further to the right, with US influence in the region at stake⁸. The vote will decide whether Brazil joins a growing list of countries across Latin America that have moved in that direction².

Bolsonaro’s first-round lead followed a string of victories across Latin America by right-wing parties aligned with US President Donald Trump⁴. The runoff also comes after right-wing gains in Brazil’s legislature, which will shape how much room the winner has to govern⁶.

The stakes have been framed in stark terms on polling day, with warnings about what a far-right victory would mean⁶. Commentary has described Latin America’s authoritarian right as seeing an opening⁹.

For investors, the closeness of the race means uncertainty is likely to persist until the count is complete^1,3. A Bolsonaro victory would shift the region’s largest economy further to the right⁸.

What to watch

The first official results after polls close, following the two-hour extension ordered by the Supreme Court, will show whether either candidate has a clear lead^1,2.

Any challenge to the extension or to the count would prolong uncertainty in a race that has been close throughout^1,3.

Investors will also look at how the result sits with a legislature in which the right has already made gains⁶.

Reaction from Washington will be watched closely, given that US influence in Latin America is part of what is at stake in the vote^4,8.