The Ibovespa edged 0.1% lower to close at 141,683 on Tuesday, after renewed US–China trade retaliation, tit-for-tat port fees and China’s sanctions on US-linked units of South Korea’s Hanwha Ocean, has revived global risk aversion and disrupted shipping costs. Heavyweights WEG, Santander and B3 led the decline, each down between 1.2% and 1.5%, while consumer names Marfrig (-3.7%), Hapvida (-2.7%) and Natura (-2.7%) were among the session’s biggest laggards. Offsetting some of the weakness, Embraer jumped 4.9% after TrueNoord placed a $1.8 billion order for 20 E195-E2 jets. Domestically, the government’s failure to advance an IOF/tax measure has forced the Finance Ministry to seek alternative budget fixes, reviving investor concern about fiscal funding and policy credibility and adding an extra layer of downside risk to market internals.