Ibovespa Slips as Trump Tariff Uncertainty Weighs

2026-02-23 13:47 By Isabela Couto 1 min. read

The Ibovespa fell nearly 0.5% to trade below 190,000 on Monday, following a record high as uncertainty gripped international markets following US President Trump's announcement of a new 15% tariff in response to the Supreme Court's decision to strike down his global rate package.

Despite the additional surcharge, the average duty on Brazilian products remains below the peak levels seen in 2025, when some exports faced rates as high as 50%.

The new general rate is set to take effect tomorrow, alongside existing levies on steel and aluminum.

Steel stocks came under pressure, with Gerdau falling 0.4% and CSN losing 1%.

Capital goods manufacturer WEG also declined nearly 1%, while the financial sector traded lower, with Itaú shedding over 1% and Bradesco dropping 0.7%.

On a brighter note, Telefônica Brasil gained 1.8% after reporting fourth-quarter net income of R$1.88 billion, up 6.5% year-over-year.

Gerdau is set to release its earnings results after the close.



News Stream
Ibovespa Sets New Record High
The Ibovespa rose 1.4% to close at a record 191,490 on Tuesday, as markets shrugged off earlier volatility from US trade policy shifts. Petrobras climbed 2.3% on firming global oil prices and strong cash flow outlooks, while the utilities sector surged with COPEL leading at 3.1%. Consumer sentiment also provided tailwinds after the Focus Bulletin’s annual inflation forecast dropped for the seventh straight week to 3.91%. In contrast, steelmaker Gerdau fell 2.2% after reporting a 21% decline in 2025 net income to R$3.4 billion, weighed down by record steel imports into Brazil despite strong North American performance. Meanwhile, retailers were mixed as investors processed the impact of the new 15% US global tariff, though the Brazilian real hit its strongest level since May 2024. After the bell, market attention shifted to earnings from C&A, GPA, and Iguatemi, while the broader market remains buoyed by expectations of potential interest rate cuts starting in March.
2026-02-24
Ibovespa Rises on Oil Gains
The Ibovespa rose nearly 1% to over 190,000 on Tuesday, approaching a record high, on support from companies in the oil sector. Petrobras climbed 1.5% as crude oil benchmarks continued to rise ahead of new US-Iran nuclear talks this week. The utilities sector also contributed to the gain, with Axia up more than 1%. In contrast, Gerdau fell over 3% after reporting a 21.1% decline in net profit for 2025 compared to 2024. Meanwhile, investors are awaiting earnings from C&A (+0.5%), GPA (+3%), Iguatemi (+0.5%), and ISA Energia (+0.4%) after market close.
2026-02-24
Ibovespa Declines From Record High
The Ibovespa fell 0.9% to close at 188,853 on Monday, retreating from a new intraday historical high of 191,002 as volatility from US President Trump's 15% global tariff announcement weighed on sentiment. While the real strengthened to R$5.17, the equity index was dragged down by a sharp retreat in the financial sector after Santander plunged 4.7%, Itaú dropped 3.2%, and Bradesco fell 1.9%. Retailers also struggled, with Magazine Luiza sliding 4%. These losses overshadowed resilience in heavyweights Vale and Petrobras, which rose 0.7% and 2% respectively despite lower oil prices. Steelmaker Gerdau edged down 0.1% ahead of its earnings release, while WEG remained nearly flat. On the upside, Telefônica Brasil gained 3.3% following a well-received fourth-quarter report, and Cosan rose 1.1% amid Compass IPO developments. Locally, investors found some relief as the Focus Bulletin’s annual inflation forecast fell for the seventh straight week to 3.91%.
2026-02-23