FX.co ★ Ibovespa Dips as US Trade Tensions Linger

On Thursday, the Ibovespa index dipped by 0.2%, closing below 140,000, lagging behind most major stock markets amid persistent global trade concerns affecting emerging markets. Brazil didn't receive the initial notification regarding upcoming tariff levels set for August 1st, which could lead to the reapplication of the previously removed 10% tariff imposed on Brazil during "Liberation Day." Additionally, the risk of further tariffs on BRICS countries looms after President Lula suggested the potential for retaliatory measures. Investors remain vigilant as they assess the domestic fiscal situation with an upcoming interview featuring Finance Minister Haddad. In the corporate sector, banking stocks declined due to a renewed rise in domestic yields, with Bradesco and Banco do Brasil experiencing losses. Meanwhile, the performance among retail giants varied; despite a second consecutive monthly drop in retail sales in May, Magazine Luiza saw gains, whereas Casas Bahia registered a significant decline.