Brazil's Ibovespa closed down 0.2% at 166,334 on Tuesday, giving up an earlier gain of more than 0.5% and extending its losing streak to 11 sessions after recently touching a seven-month low. Early support from Petrobras, which benefited from higher oil prices, and from Axia, after its roughly R$2 billion second Class C preferred share buyback operation and an Itaú BBA buy recommendation, faded as global bond yields stayed near multi-decade highs and concerns over the US-Iran situation revived inflation worries. Major banks ended lower, including Itaú, Bradesco and Banco do Brasil, while utilities and steelmakers also weakened. Petrobras still finished up 0.3%, Vale edged up 0.2%, and WEG, Embraer, Suzano and Rede D’Or were among outperformers. Casas Bahia fell 7% after seeking a R$1 billion loan and tying its recovery plans to its marketplace business following its judicial recovery filing; the stock had dropped 33% on Monday after repeated trading halts.