Brazil: Ibovespa Drops Amid Risk-Off Market.

The Ibovespa fell 1% to close at 161,975 on Wednesday, pulling back after testing record highs in the previous session as renewed geopolitical uncertainty weighed on sentiment after Washington signaled tighter control over Venezuela’s oil industry. President Donald Trump said the country would deliver millions of barrels of crude to the US, heightening market caution. Petrobras was mostly flat amid uncertainty over Venezuelan oil flows, while Vale gained 0.9% on firmer iron ore prices. Banks underperformed, with Ita