Brazilian executives and investors are cooling their support for presidential candidate Flávio Bolsonaro as he seeks backing in the nation's financial hub. The shift follows days after details emerged linking him to a scandal-plagued banker, casting doubt on his judgment among business leaders who prize political stability.

Executives who previously backed Bolsonaro are now hedging their positions publicly. His campaign's push for support in São Paulo, the country's financial center, runs into growing reluctance as the banker connection raises reputational concerns for anyone publicly aligning with him.

The fallout threatens to shrink Bolsonaro's corporate funding pipeline. Business figures now face a choice between political loyalty and distance from a candidate associated with legal controversy, and many are choosing caution.