Ibovespa falls for 4th session on Brazil fiscal worries, Vale earnings awaited

Brazil's Ibovespa stock index fell for a fourth consecutive session on Thursday, dropping 0.95% to 169,360 points, driven by domestic fiscal concerns and declines in U.S. markets that outweighed a 2.4% surge in iron ore prices. Investors remain anxious over the government's economic agenda for President Luiz Inácio Lula da Silva's fourth term, particularly fiscal policy and the appointment of the finance minister. The Treasury secretary denied plans to tax exempt investment securities with IOF, while U.S. GDP grew 3.4% and PCE inflation met expectations. Petrobras reported record third-quarter production of 3.51 million barrels of oil equivalent per day, up 11.8% year-over-year. Vale releases earnings after market close, with expected profit of $1.58 billion, down 41% annually. Disappointing results from Alphabet and Samsung pressured tech stocks globally.