{
  "id": 982321,
  "title": "Ibovespa Slides for a 9th Straight Session as Citi Drops Brazil’s Real on a Likely Lula Win",
  "url": "https://urgent.news/2026/08/15/ibovespa-slides-for-a-9th-straight-session-as-citi-drops-brazils-real",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-15T07:09:39.000Z",
  "source": {
    "name": "The Rio Times",
    "slug": "the-rio-times",
    "url": "https://www.riotimesonline.com/ibovespa-slides-for-a-9th-straight-session-as-citi-drops-brazils-real-on-a-likely-lula-win/"
  },
  "original_language": "en",
  "account": "Foreign investors are retreating from Brazil as the upcoming October election approaches. Major banks and funds are cutting their investments in the Brazilian real and local shares. The Ibovespa, Brazil's main stock index, has fallen for a ninth consecutive session, marking its worst losing streak since 2023. Citi, one of the world's largest banks, removed the Brazilian real from its favored bets, citing a likely Lula election win as unsettling markets. The Ibovespa closed at a seven-month low of 166,934 points on Friday, marking the ninth consecutive day of losses. The market has shed approximately 6.2% over the nine sessions, and 3.2% for the week. Brazil's major lenders led the decline, with Itau Unibanco dropping R$43.5 billion (US$8.4 billion) in market value alone. Petrobras, the oil giant, saw a market value loss of roughly R$18.55 billion (US$3.6 billion) during the same period. Citi's decision to remove the Brazilian real from its carry-trade basket and replace it with the South African rand indicates a broader market concern. Foreign investors are pulling out, with Citi reporting that about R$1.6 billion (US$308 million) was withdrawn from Brazilian stocks in one day alone. The real's value has weakened to near R$5.19 against the US dollar, making imports pricier and potentially leading to inflation. This is the longest consecutive losing streak since August 2023, when the Ibovespa fell for 13 straight sessions.",
  "summary": "Brazil's Ibovespa closed lower for a ninth straight session, its longest losing streak since 2023, as Citi pulled the real from its carry-trade basket and a big global fund cut its Brazil exposure. The post Ibovespa Slides for a 9th Straight Session as Citi Drops Brazil’s Real on a Likely Lula Win appeared first on The Rio Times .",
  "key_points": [
    "Ibovespa falls for ninth straight day, lowest since 2023",
    "Citi removes Brazilian real from favored bets, citing Lula win",
    "Foreign investors withdrawing, R$1.6 billion pulled in one day"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}