Ibovespa falls a third day to 168,453 as a hawkish US Fed jolts world markets, even as Brazil's central bank delivers its third straight rate cut to 14.25%.

Ibovespa lags a global relief rally as oil sinks toward $83 and Brazil counts down to a make-or-break double rate decision from the Fed and its own central bank.

The Ibovespa fell 0.45% to 169,648 on Tuesday, a third straight decline onto its long-term floor, as Brazil waited on twin rate decisions from the Fed and its own central bank.