FX.co ★ Ibovespa Tumbles on Thursday

The Ibovespa index fell by 1.2% to conclude at 133,737 on Thursday, as rising trade tensions and unfavorable corporate developments adversely affected Brazil's export and commodity-reliant market. President Trump's threat to impose a 50% tariff on Brazilian goods, coupled with the absence of progress in US-Brazil discussions despite President Lula's outreach efforts, placed agribusiness and mineral exports at risk. This resulted in a 1.6% decline for Vale and an even sharper drop for its iron-ore counterparts. The financial sector also experienced setbacks, with Banco do Brasil, Santander, and Bradesco each seeing decreases ranging from 0.9% to 1.4%. Concurrently, industry heavyweight WEG saw its shares plummet by 8% after it reported second-quarter revenue that fell short of expectations and issued a warning that impending US tariffs on its electric motors, along with rising freight and input costs, would severely impact its profit margins.