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The Ibovespa fell 1.5% to close at 174,042 on Friday, as investors reacted to new US tariffs on Brazilian exports and rising tensions in the Middle East. Concerns within the Brazilian government and corporate sector intensified after the Trump administration announced another round of levies on Brazilian products.
At the same time, markets continued to struggle with inflation worries and expectations of higher global interest rates, with oil prices still elevated despite retreating from recent highs.
Major banks led the decline: Banco do Brasil dropped 2.8%, Bradesco fell 1.3%, Itaú slid 1.1%, and Santander also lost 1.1%. Petrobras retreated 1.7% in step with weaker oil prices, while junior oil producer PRIO declined 2.8%.
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Vale slipped 0.6% but still recorded a weekly advance of more than 3%, supported by stronger‑than‑expected production figures released earlier in the week. Moving against the broader market, WEG rose 0.7% following its quarterly results, buoyed by positive commentary from Goldman Sachs and Itaú BBA.
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