Ibovespa Posts Worst Week Since Pandemic

2026-10-30 21:17 By Isabela Couto 1 min. read

The Ibovespa fell 0.7% to close at 167,922 on Friday, extending its losing streak to five sessions and posting its worst weekly performance since March 2020, at the height of the pandemic.

The index had rallied in early October amid bets on a change in government and fiscal adjustment.

However, Lula’s reelection triggered the unwinding of those positions, while concerns over public spending and debt prolonged the selling pressure.

The shift particularly affected companies sensitive to credit conditions and consumer spending.

Banks declined, with Bradesco and Itaú each losing 2.1%.

Steelmakers posted sharp losses, with CSN plunging 8.5%.

In contrast, Vale, whose shares had plunged more than 11% over the month, rose 3.3% despite reporting a net loss in the third quarter, as its copper business helped offset costs in iron ore and nickel.

Petrobras also advanced 1%, tracking oil prices.

The Ibovespa sank 17.3% on the week and 10% for the month.



News Stream
Ibovespa Posts Worst Week Since Pandemic
The Ibovespa fell 0.7% to close at 167,922 on Friday, extending its losing streak to five sessions and posting its worst weekly performance since March 2020, at the height of the pandemic. The index had rallied in early October amid bets on a change in government and fiscal adjustment. However, Lula’s reelection triggered the unwinding of those positions, while concerns over public spending and debt prolonged the selling pressure. The shift particularly affected companies sensitive to credit conditions and consumer spending. Banks declined, with Bradesco and Itaú each losing 2.1%. Steelmakers posted sharp losses, with CSN plunging 8.5%. In contrast, Vale, whose shares had plunged more than 11% over the month, rose 3.3% despite reporting a net loss in the third quarter, as its copper business helped offset costs in iron ore and nickel. Petrobras also advanced 1%, tracking oil prices. The Ibovespa sank 17.3% on the week and 10% for the month.
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The Ibovespa fell nearly 1% to hover below 168,000 on Friday, hitting a more than three-month low and heading for a fifth consecutive decline amid fiscal uncertainty and Vale’s weak third-quarter results. President Lula’s reelection continued to weigh on sentiment as investors awaited key appointments, including the Finance Minister, and further details on fiscal policy for his next term. Financial stocks declined, with Itaú down more than 1%, Bradesco shedding 2% and BTG Pactual losing over 3%. Vale fell 0.5% after reporting a 53% year-over-year drop in net income. Ambev slipped more than 0.5% despite beating profit estimates, as EBITDA disappointed. In contrast, Petrobras gained over 1% as oil prices rebounded. The Ibovespa was on track to plunge about 18% for the week and more than 9% for the month.
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The Ibovespa fell 1.1% to close at 169,186 on Thursday, extending its losing streak to four sessions and hitting a three-month low amid fiscal uncertainty. President Lula’s reelection continued to weigh on sentiment as investors awaited nominations for key positions, including the Finance Ministry, and further details on fiscal policy for his next term. Bond yields posted their sharpest rise since Monday, immediately after the election. Financial stocks declined, with Bradesco losing 3.5% after receiving two rating downgrades this week. Itaú BBA cut its rating from buy to neutral and lowered its price target, while JPMorgan downgraded the stock from overweight and also reduced its target. B3 fell 3.3%. Elsewhere, Vale shed 2.2% ahead of its third-quarter earnings report. Ambev dropped 4.4% despite beating profit estimates, as EBITDA disappointed. Petrobras slipped 0.6% despite record third-quarter production, as oil prices declined.
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