The Ibovespa lost 1.2% to close at 137,116 on Friday, its steepest one-day drop in weeks, as investors returned from holiday to digest the central bank’s surprise Selic hike to 15%, which further tightened borrowing costs and clouded the outlook for credit-sensitive sectors.
Bank and consumer-finance names were hit hardest: Santander fell 2.2%, Bradesco slid 1.7%, Itaúsa dropped 1.1% and Banco do Brasil eased 1.9% after Copom’s hawkish tone signaled that tightening would persist “for a very long period” if inflation remains elevated. Retailers and real-estate stocks also suffered amid forecasts that higher rates will damp household spending and curb new construction. Meanwhile, Petrobras’s modest dividend payout failed to buoy energy shares, leaving the São Paulo exchange to finish the week down 0.1%.
