Ibovespa Slips as Bolsonaro Conviction Roils Markets

2025-09-12 14:14 By Isabela Couto 1 min. read

The Ibovespa struggled to hold the 143,000 mark on Friday as investors assessed the impact of former president Jair Bolsonaro’s conviction.

Bolsonaro was sentenced to 27 years and 3 months in prison in a historic ruling that also convicted high-ranking Armed Forces officers for attacking democracy.

The verdict drew international reactions, with US Secretary of State Marco Rubio calling it a “witch hunt” and Donald Trump labeling it “terrible,” though without signaling new sanctions.

Trump had already raised tariffs on Brazilian products in July, partly citing Bolsonaro’s trial.

Major banks fell (Itaú Unibanco -1.3%, Bradesco -0.5%), extending the poor momentum for the sector on risks of tariffs and sanctions from the US on retaliation for Bolsonaro's conviction.

In turn, commodity giants rose with Petrobras and Vale edging higher.



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