The Ibovespa fell 0.2% to 166,334 on Tuesday, giving up earlier gains and marking its eleventh straight session of declines as high global bond yields and geopolitical uncertainty pressured risk assets. Investor sentiment weakened with bond yields hovering near multi-decade highs, while fading hopes for a peace deal between the US and Iran and higher energy costs revived inflation concerns. Major banks led losses, with Itaú down 0.5%, Bradesco off 0.6% and Banco do Brasil falling 0.8%. Utilities also slipped, including Axia, which lost 0.6% after earlier gains tied to its share buyback operation and a buy recommendation from Itaú BBA. Steelmakers declined despite firmer iron ore prices, with Gerdau down 2.3% and CSN off 0.7%, while Vale rose 0.2%. Petrobras added 0.3% on stronger oil prices, and WEG, Embraer and Suzano outperformed.