Ibovespa Slips Below as Middle East Tensions Rattle Markets

2026-03-02 14:11 By Isabela Couto 1 min. read

The Ibovespa fell 1% toward 187,200 on Monday, mirroring global equity declines amid escalating Middle East tensions that threaten prolonged conflict.

US attacked Iranian authorities over the weekend and Iran responded by striking multiple Middle Eastern states.

Banks fell as the surge in energy prices from the conflict led to hawkish expectations for the BCB and lifted credit costs globally, with Itaú and Bradesco down nearly 1.5%.

Utilities also declined, with Axia losing nearly 2% on higher costs of utility sourcing.

Meanwhile, WEG (-1.6%), and Rede D’Or (-3%) lagged after disappointing Q4 results.

Embraer lost over 2% ahead of it's reports later this week.

In contrast, Petrobras surged over 3% as disruption of oil exports in the Persian Gulf triggered a surge in energy prices.



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Ibovespa Slips Below as Middle East Tensions Rattle Markets
The Ibovespa fell 1% toward 187,200 on Monday, mirroring global equity declines amid escalating Middle East tensions that threaten prolonged conflict. US attacked Iranian authorities over the weekend and Iran responded by striking multiple Middle Eastern states. Banks fell as the surge in energy prices from the conflict led to hawkish expectations for the BCB and lifted credit costs globally, with Itaú and Bradesco down nearly 1.5%. Utilities also declined, with Axia losing nearly 2% on higher costs of utility sourcing. Meanwhile, WEG (-1.6%), and Rede D’Or (-3%) lagged after disappointing Q4 results. Embraer lost over 2% ahead of it's reports later this week. In contrast, Petrobras surged over 3% as disruption of oil exports in the Persian Gulf triggered a surge in energy prices.
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