FX.co ★ Ibovespa Falls Ahead of Lula Meeting and Fed Signals

On Tuesday, the Ibovespa index experienced a decline of 0.4%, dropping below the 137,000 mark. This movement occurred as investors closely followed developments from President Lula's morning meeting with ministers, the heads of state-owned banks, and the central bank governor. In the afternoon, Vice President Geraldo Alckmin planned to participate in a Santander event in São Paulo. These meetings drew significant attention as discussions in Brasília focused on potential policy measures in response to the United States' imposition of aggressive tariffs on certain sectors. Simultaneously, the scope for governmental intervention remained constrained by stringent fiscal risks. Notable market movements included a 0.6% rise for Petrobras despite a decline in global oil prices. In the financial sector, Itaú Unibanco gained 0.7%, Bradesco advanced by 1.5%, and Ambev edged up 0.2%. Conversely, Vale experienced a slight decrease of 0.2%, and Eletrobras saw a significant drop of 4.4%.