The Ibovespa fell 0.9% on Monday, closing at 188,853 points after retreating from a fresh intraday record high of 191,002, as market sentiment was hit by volatility following US President Trump’s announcement of a 15% global tariff. The real, however, strengthened to R$5.17 against the dollar.
The equity benchmark was weighed down primarily by a sharp pullback in financial stocks: Santander sank 4.7%, Itaú lost 3.2%, and Bradesco declined 1.9%. Retail names also came under pressure, with Magazine Luiza sliding 4%, and these moves more than offset the relative resilience of key index heavyweights.
Vale and Petrobras advanced 0.7% and 2%, respectively, even as oil prices fell. Gerdau edged 0.1% lower ahead of its earnings release, while WEG ended the session virtually unchanged.
On the positive side, Telefônica Brasil gained 3.3% after a well-received fourth-quarter earnings report, and Cosan rose 1.1% amid progress related to the Compass IPO. Domestically, investor sentiment found some support from the Focus Bulletin, which showed the market’s annual inflation forecast declining for the seventh consecutive week, to 3.91%.
