Demonstrators storm government buildings in Brazil; President Da Silva…

Demonstrators storm government buildings in Brazil; President Da Silva…

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Brazil’s Congress, Presidential Palace and Supreme Court were overrun by supporters of the country’s former president on Sunday president Jair Bolsonaro.

What happened: Thousands of people stormed government buildings in the capital, Brasília, according to Reuters. Broadcasts of the events showed protesters wearing Brazil’s national colors of green and yellow smashing windows in Congress and entering the presidential palace.

The chaos unfolded after the President Luiz Inacio Lula da Silvas Inauguration last Sunday.

The 77-year-old president was not in the capital on Sunday as protesters besieged the presidential palace. In response to the news, he called the protesters “fanatical fascists.” to The Wall Street Journal.

He also criticized the military police for doing “absolutely nothing” to stop the protesters.

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Sunday’s chaos comes after Bolsonaro claimed voter fraud in his loss to da Silva. With the results in, Bolsonaro declined to attend the traditional presidential sash ceremony 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 reacted quickly to Sunday’s events, with the governments of Spain, Portugal and France expressing their support for President da Silva.

On Sunday night, CNN reported that Brazil’s Federal District Military Police (PMDF) evicted protesters from government buildings. About 30 people have been arrested and police are working to identify those involved in “acts of vandalism,” according to a PMDF statement.

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