By Brazil Stock Guide – Brazil’s main equities gauge closed lower on Tuesday, dragged down by losses in New York and by domestic political and economic concerns. According to Reuters, the Ibovespa dropped 0.62% to 140,410.04 points in preliminary data, after swinging between a low of 139,625.25 and a high of 141,279.12 during the session. Financial turnover reached 19.2 billion reais before final adjustments.
Investors reacted to disappointing signs of economic slowdown following fresh GDP data, while the start of the Supreme Court (STF) trial of former President Jair Bolsonaro added further volatility. The combination of weak macro indicators and heightened political risk weighed on sentiment, amplifying the impact of Wall Street’s downturn.
Cosan bucks the trend
Cosan SA (CSAN3.SA) stood out on the upside, advancing after reports involving its energy and biofuels joint venture Raízen (RAIZ4.SA). The move provided a rare bright spot in an otherwise risk-off session, with most blue chips under pressure.
Global backdrop adds pressure
US stocks fell as technology shares retreated and concerns mounted over the Federal Reserve’s policy outlook. That bearish tone spread to emerging markets, including Brazil, already sensitive to capital flows and investor risk appetite.
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