So far US equity futures are flat to modestly higher on the 'disappointing' news that Rousseff was re-elected in Brazil. USDJPY has given up its hope-based gains and is lower (implying a 4-5 point drop in S&P Futures that is not there yet). Brazilian stocks (trading in Japanese ETFs) are down almost 6% in early trading on heavy volume as the pro-business hope-driven rally has been almost entirely given back.

NEXT FUNDS IBOVESPA ETF (Japan)

On heavy volume...

and USDJPY has faded - though S&P Futures are stable for now...

Charts: Bloomberg