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The national selective closed the day with a fall of 3.48%, also influenced by the bad day that the global stock markets had.
The announcement that the quarantine from this Friday extends to 38 communes in the Metropolitan Region it hit the Chilean stocks hard, considering the limitations that companies will have for the development of their business.
At the Santiago Stock Exchange, the SP IPSA -main indicator of the local market- started the day downward, coupling global pessimism in the face of the economic impact that the pandemic is leaving, but only the Minister Mañalich took the measures mid-day of confinement the drop in the selective was deepened, so the day ended by falling 3.48% to 3,604.91 points.
The steepest falls in the stock market occurred in companies that are directly affected by the quarantine. Thus, the retail sector was the most affected by the actions of La Polar, Hites and Ripley, which registered losses of 10.63%, 10.37% and 9.30%, respectively.
Pessimistic world
Not as deep as in Chile, but global actions also had a terrible day. The money tables were filled with orders to sell shares after the president of the US Federal Reserve, Jerome Powell, gave signs of the dark economic outlook that is coming for the main economy in the world that will generate the coronavirus.
Thus, the Dow Jones ended the day with a drop of 2.17%, the S&P 500 1.75% and the Nasdaq, which did so at 1.55%.
“The theme continues that the recovery will be slower and more uneven than the discount the markets are currently making,” Sameer Samana, senior global market strategist at Wells Fargo Investment Institute, told Bloomberg.
While, European stock markets ended with losses of more than 2% after the Old Continent reported a 12.9% drop in its industrial production in March. Furthermore, in United Kingdom it was reported that the economy contracted 5.8% in March, but analysts point out that the drop will be much greater in the readings between March and June.
Thus, who commanded the casualties was the Cac 40 French, which at the end of the day fell 2.85%. However the German dax and the pan-European benchmark Euro Stoxx 50 nor did they fall behind and experience losses of 2.56% and 2.55%, respectively.
Asian markets had a day with mixed results, after the concern that has generated a new outbreak of coronavirus detected in Wuhan, where the pandemic originated. While the Japanese Nikkei 225 and the Hong Kong Hang Seng experienced declines of 0.49% and 0.27% respectively, the Chinese CSI broke out of the red and ended the day with a gain of 0.20%.
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