The Brazilian Stock Exchange (B3) dropped 2.25% on Friday, wiping four thousand points off the index in a single afternoon. This was due to Iran war escalation, options expiry volatility, and Petrobras political risk. The B3 closed at 176,219, marking its lowest finish since January 22. Only five of the Ibovespa's constituents ended in the green. The oil company was hit by a diesel subsidy decree, Lula’s Mataripe buyback pledge, and a court injunction suspending the pre-salt Phase 4 license. PetrobrAS's shares also fell, making it the session's worst performer by a wide margin. The Ibovepa's retreat from its 192,6-time high represents a fourth consecutive negative week. The price of the S&P 500 fell 1.51% and the Nasdaq entered correction territory.