Ibovespa falls more than 2% after a series of record highs.
Banks were among the biggest pressures on the stock market's performance.
Reuters The Ibovespa accelerated its losses on Wednesday afternoon, falling almost 3% at its worst point, with the more negative climate abroad justifying a correction in the São Paulo stock exchange after new records at the start of the year.
Around 16:30 PM, the Ibovespa, the benchmark of the Brazilian stock market, was down 2,79%, at 180.496,43 points, having reached a low of 180.268,54 so far. The previous day, it surpassed 187 points for the first time at its peak.
On Wall Street, the S&P 500 and Nasdaq also extended losses, in a trading session marked by heavy declines in software company stocks, amid concerns about a potential threat to the sector posed by artificial intelligence.
According to Paulo Monteiro, head of investments at Gravus Capital, the drop in the São Paulo stock exchange reflects a global trend, which is also being observed in other emerging markets, such as Mexico.
Monteiro highlighted that the Brazilian stock market is still very sensitive to what happens abroad and, just as the strong flow of foreign capital last month supported a robust performance of the Ibovespa, any worsening of sentiment ends up affecting business.
"The market reacts quickly, as we saw today," he stated.
The drop in this trading session occurred after the Ibovespa reached new historical highs the previous day, accumulating, up to Tuesday's closing price, a gain of more than 15% in 2026.
The significant decline in bank stocks was also influenced by Santander Brasil's results, with some analysts negatively assessing the delinquency data. Itaú Unibanco will report its numbers after the market closes on Wednesday.
(By Paula Arend Laier)
