The Ibovespa fell more than 0.5% to slip below 171,000 points on Wednesday, as renewed tensions between the United States and Iran intensified global risk aversion. US President Trump declared that the memorandum of understanding with Iran to end the conflict was “over,” reigniting concerns about potential disruptions to global energy supplies.
The resulting increase in oil prices revived fears of energy-driven inflation and the prospect of higher interest rates, putting pressure on financial stocks and the broader index. Itaú and Itaúsa retreated nearly 2%, while Santander, Banco do Brasil, and Bradesco each declined around 1%.
Vale sank more than 2% after the conclusion on Tuesday of a hearing regarding the US Trade Representative’s proposed 25% tariff on Brazilian goods. The stock also reacted to Monday’s announcement of the immediate resignation of Chairman Daniel Stieler. Other major exporters also traded lower, including Embraer (-3%), Gerdau (-1%), CSN (-1%), and Minerva (-1%).
Moving in the opposite direction, Petrobras advanced more than 2.5%, supported by the rally in international oil prices.
