The Ibovespa fell 0.2% to close at 137,771 on Tuesday, as investors weighed policy and macro developments, notably the second ministerial meeting to coordinate a response to US tariffs and a government R$12 billion credit program for industrial modernization. The IPCA-15 fell 0.14% in August after rising 0.33% in July, a sequence that eases near term inflationary pressure and preserves the possibility of an eventual easing cycle by the central bank. Market attention also focused on the pre-salt auction scheduled for December 4, which remains important for investment and fiscal receipts. Among stocks Petrobras fell 0.7% while Vale gained 0.7%. Meanwhile banks traded mixed with Ita