Brazil’s Ibovespa fell 1.06 percent to close at 169,186.42 points on 29 October 2026, its fourth consecutive session of losses. The dollar rose 0.89 percent against the real to R$5.387.
The index has now shed 17.5 percent since the close on the Friday before the second round of the election, when it stood near 205,000 points. Financial volume on the session reached R$31 billion.
Foreign investors head for the exit
Genial equity strategist Filipe Villegas said the decline was driven mainly by domestic factors, notably the unwinding of positions built up before the runoff. He said foreign investors who had bought heavily between the two rounds were now leaving.
Villegas said the market was watching the technical level of 167,000 points, and that he still expected considerable selling ahead. The EWZ exchange-traded fund recorded an outflow of US$632 million, a record.
Fiscal doubts weigh on the market
Guilherme Boulos, secretary-general of the Presidency, said on X that fiscal adjustment was not part of the new government’s agenda. The economic agenda, he wrote, would be the one that won the election.
Also Read
Radio CBN reported that Lula plans to travel to Piauí next week to invite governor Rafael Fonteles to lead the Ministry of Finance. The dollar pared gains near the close after the report.
Wall Street and oil also lower
US stocks closed lower, with technology under pressure over doubts about returns on AI investment. The Nasdaq fell 1.38 percent, the S&P 500 0.30 percent and the Dow Jones 0.25 percent. Alphabet’s results revived those concerns.
Oil futures closed moderately lower on expectations of a possible US-Iran agreement.
