The Ibovespa slipped below 174,000 on Friday as the escalating conflict between the US and Iran kept oil prices elevated. Both countries stepped up attacks across the Gulf, and the breakdown of their truce disrupted oil shipments through the Strait of Hormuz. The flare-up pushed oil prices higher, fueling inflation concerns and pressuring financial stocks and the broader equity market.
Among major banks, Bradesco fell more than 0.5%, while Itaú and Itaúsa also ticked lower. Vale extended its decline, losing nearly 1% after the US announced a new 25% tariff on Brazilian imports. Other notable underperformers included Axia (-0.4%) and Rede D'Or (-0.5%). In contrast, Petrobras gained nearly 2%, supported by the rise in oil prices.
