Former Brazilian president Bolsonaro supports his eldest son's bid for president as Brazil's assets decline further.

Brazilian congressman Flavio Bolsonaro said that his father, former President Jair Bolsonaro, supports his participation in the 2026 presidential election, striking a blow to investors hoping for another candidate to challenge current President Lula. Flavio announced on social media on Friday: "With a great sense of responsibility, I confirm that Brazil's greatest political and moral leader, Jair Bolsonaro, has decided to entrust me with the mission of continuing our country's project." After Flavio confirmed this decision, Brazilian assets fell, with the Brazilian Real falling by 3.1% at one point and the Brazilian Ibovespa stock index dropping by 4.2%.