The Ibovespa fell nearly 1% on Thursday, trading around 174,500 points, after the United States announced a new 25% tariff on Brazilian imports, set to take effect on July 22. Vale dropped more than 1%, and steelmakers also retreated, with Gerdau and CSN each losing over 1%.
The measure will not apply to several key products, including beef, coffee, rare earths, energy products, aircraft, and aircraft parts, which will be exempt from the new tariff.
Petrobras advanced more than 0.5%, supported in part by the rise in international oil prices, while Embraer and Minerva were little changed.
In the external scenario, escalating tensions in the Middle East drove oil prices higher on supply concerns, adding to global inflation fears. Rising bond yields further pressured financial assets and the broader equity market. Itaú and Bradesco slipped about 0.5%, and B3 sank more than 2%.
Utilities also traded lower, with Axia and Sabesp both down around 1%.
