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In Chile, the rise in the IPSA only served to lessen the decline in recent days.
It changed the discourse on Wall Street. If a few weeks ago The blame for the sharp falls in global stock markets was due to the correction of technology companies, now traders are looking further and worrying about the economy.
This Friday’s session ended in New York with the S&P 500 rising 1.6% and the Dow Jones rising 1.3%. But the summary of the last five days leaves both indicators with falls of 0.63% and 1.75% respectively. It’s the fourth consecutive weekly Wall Street crash.
The rise in coronavirus cases in several countries, that is, the dreaded “second wave” is a reality and the measures taken by governments revive investors the worst fears of March when the “great lockdown” it devastated the activity and literally knocked the stocks down.
Proof of the change in the cash tables is that the titles most punished in the week were those that are more linked to the economic cycle such as banks or producers of raw materials.
An analysis by Bloomberg details that for many weeks investors in the United Statess ignored that the fiscal stimulus in the main economy was running out, so now they see that the lack of new measures that underpin the activity puts pressure on companies that find it more difficult to recover lost income in the first part of the year. It is too late for the stock market, the uncertainty of a presidential election has already reached Wall Street.
“There are clear signs that the reopening of the economy has stalled,” Marc Chaikin, founder of Chaikin Analytics, told Bloomberg, adding that “we need another stimulus bill to get the market going again.” But another plan seems difficult, with congressmen focusing on the Supreme Court and a potentially chaotic presidential election looming in November.
In Chile, the IPSA ended the session on Friday with a rise of 0.49%, so the selective was 3,589.04 points. In any case, it was not enough to reverse a black week for local stocks, as the indicator lost 3.77% in the week.
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