Ibovespa heads into Wednesday at 165,528.92 after sixth straight decline
Published on 11/04/2026 at 13:01 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSIbovespa faces another key test
- The index closed at 165,528.92 points on November 3, down 1.42% in its sixth consecutive decline.
- Fiscal-policy uncertainty and concern about monetary-policy direction weighed on Brazilian assets ahead of the Copom decision.
- Wednesday's session will be shaped by the central-bank announcement and fresh signals from global markets.
The Ibovespa enters Wednesday, November 4, after closing the previous session at 165,528.92 points, down 1.42%. According to Reuters, the benchmark reached a low of 164,446.53 points and a high of 168,005.46 points during Tuesday's session. The close was the lowest since January 19 and extended the decline to six consecutive sessions.
Policy uncertainty remains central
The latest selloff followed the reopening of the B3 after Brazil's All Souls' Day holiday. Reuters reported that investors were assessing uncertainty over the direction of economic policy under President Luiz Inacio Lula da Silva's fourth term, including the composition of the economic team and possible fiscal measures.
Valor International said Brazilian assets ended Tuesday at their weakest levels of 2026. The publication linked investor concerns to proposals for substantially lower interest rates and uncertainty about the independence and future composition of the Central Bank. It also reported that the real weakened 0.79% against the US dollar and that Petrobras preferred shares fell 3.79%, while Vale preferred shares declined 2.85%.
Copom decision in focus
The main domestic event on Wednesday is the Monetary Policy Committee's decision on the Selic rate. The rate stood at 13.75% before the meeting, and market expectations were divided between a pause and a further quarter-point cut. The decision is scheduled for after the Brazilian market close, so its wording and forward guidance may be more important for the following session than for the opening move.
Global signals provide a mixed backdrop. InfoMoney reported gains in European markets and US index futures after Democrats took control of both chambers of Congress in the US midterm elections. Asian markets closed mixed, with Shanghai rising 2.16%, while the Nikkei fell 1.42%.
Investors watch downside levels
The immediate test for the Ibovespa is whether it can stabilize after the recent losses. Tuesday's intraday low provides a reference for near-term risk, while the 170,000-point area remains a psychological marker on any recovery. These levels are market reference points rather than signals of a confirmed trend reversal.
For further coverage of the Bovespa, follow the dedicated topic page.
