Key Facts
The Ibovespa fell 2.5% to 167,875, its steepest one-day slide in weeks, as political noise and a JP Morgan warning on Brazil’s fiscal path spooked investors.
The real weakened 1.04% to 5.1629 per dollar, pacing losses across most of Latin America even as the US currency barely moved against a basket of peers.
Trading in BTG Pactual units sank 6.9%, the heaviest drag among financials, while blue-chips Petrobras and Vale gave up more than 1% each despite firmer oil prices.
The central bank’s latest meeting minutes signalled borrowing costs will stay high for longer, dashing hopes that the ongoing Selic cutting cycle—now at 14.00%—might accelerate soon.
