Ibovespa Drops 1.1% on Petrobras, Banks; Lula Bolsa Família Adjustment Adds Pressure

Brazil's Ibovespa fell 1.10% to 183,501 points, pressured by Petrobras' decline amid lower oil prices and banking stocks. President Lula's announcement of a Bolsa Família adjustment raises fiscal concerns and could affect the electoral landscape, while the Copom's Selic cut to 13.75% with hints of further easing offers some support. The market is weighing mixed signals: external oil weakness, domestic fiscal risk, and monetary easing.