Brazilian Stocks Decline on Tax, Trade Concerns

2025-10-10 20:28 By Mojdeh Kazemi 1 min. read

The Ibovespa lost 0.6% to close at 141,500 on Friday, as investors reacted to the rejection of an alternative to the dismissed IOF tax hike proposal, which would have modified taxation on financial investments and digital assets, and followed the broader sell-off on Wall Street.

Global markets were influenced by a ceasefire between Israel and Hamas, which pushed oil prices lower and weighed on Petrobras, down 0.8%.

US stocks tumbled after President Trump threatened a sharp increase in tariffs on Chinese imports and suggested there was no reason to meet with President Xi Jinping.

Ambipar fell 2.8%, wiping out earlier gains of over 50% after a court dismissed Bradesco’s fraud claim against the company for lack of evidence.

Steelmaker CSN dropped 3.7% amid environmental concerns and a negative Morgan Stanley outlook, which projected losses and no dividend payments until 2028.

On the week the benchmark fell 2.6%.



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