The Ibovespa fell 0.7% on Tuesday to close at 176,589, pressured by renewed geopolitical tensions after fresh US attacks on Iran dampened hopes for a near-term peace agreement. The latest strikes revived uncertainty over when the Strait of Hormuz will fully reopen, rekindling fears of persistent inflation and a prolonged period of higher interest rates. That backdrop pushed bond yields up and weighed on equities.
Financials were among the main laggards, with Itaú down 0.8%, Banco do Brasil off 2.4%, and Bradesco losing 1.5%. Utilities also retreated, with Axia slipping 2%. In the commodities space, Vale dropped 0.8% as iron ore prices declined.
On the positive side, Rede D'Or rose 1.1% after signing an investment agreement with Atlântica—a group formed by two indirect subsidiaries of Bradesco Saúde—covering the future construction and operation of a hospital in Rio de Janeiro. São Martinho, however, fell 1.5% despite reporting Q1 2026 EBITDA above market expectations.