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Brazil’s Congress, presidential palace and Supreme Court were overrun on Sunday by supporters of the country’s former President Jair Bolsonaro.
What Happened: Thousands of people stormed the government buildings in the capital Brasília, according to Reuters. Broadcasts of the unfolding events showed protesters, wearing Brazil’s national colors of green and yellow, breaking windows inside Congress and entering the presidential palace.
The chaos unfolded following President Luiz Inácio Lula da Silva’s inauguration last Sunday.
The 77-year-old president was away from the capital on Sunday when the protesters descended on the presidential palace. Reacting to the news, he called the protesters “fanatic fascists,” according to the Wall Street Journal.
He also criticized the military police for doing “absolutely nothing” to stop the protesters.
Sunday’s mayhem comes after Bolsonaro claimed election fraud in his loss to da Silva. After the results were finalized, Bolsonaro refused to take part in the traditional handing over of the presidential sash, and instead left the country for Orlando, Florida.
What’s Next: The extent of the turmoil in Brazil’s capital has yet to be determined, and may be reflected in the Ishares Msci Brazil ETF EWZ in the coming days and weeks. The ETF is up 4.85% over the past year.
The international community was quick to respond to Sunday’s events, with the governments of Spain, Portugal and France expressing their support for President da Silva.
As of Sunday evening, CNN reports that Brazil’s Federal District Military Police (PMDF) has been dispersing protesters from government buildings. About 30 people have been arrested, and police are working to identify those who were involved in “acts of vandalism,” according to a PMDF statement.
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Image and article originally from www.benzinga.com. Read the original article here.