Ibovespa Falls as Fed Hikes 25bp, Hawkish Warsh Signals Tightening

Brazil's Ibovespa extended losses after the Fed raised rates by 25bp to 3.75%-4% and President Warsh struck a hawkish tone, pressuring local assets. Petrobras shares fell on lower oil prices, compounding the selloff. The move signals tighter global financial conditions, likely weighing on emerging-market equities and currencies.