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The Chilean stock market was also infected by pessimism, with the S&P IPSA falling 0.73% today, reaching 3,826.07 points at the end of operations.
Wall Street’s pause in the wake of the Labor Day holiday did not help to completely clear the doubts around one of the sectors that has given more to talk about during the pandemic: the technological one. And is that while investors glimpse a new stumble of the Nasdaq this session, other large global markets accompany it.
The largest indices in the North American market fell en bloc.
The greater contractions were recorded in the Nasdaq Composite, which lost 4.11% of its value today, adding a fall of more than 10% from the all-time high that marked on Wednesday of last week.
For their part, the S&P 500 and the industrial Dow Jones accompanied it with decreases of 2.78% and 2.25%, respectively.
Concerns about the tech sector in the United States have been affecting risk appetite recently, while global capitals they wonder if the high valuations of the companies in the sector are sustainable. This in a context in which the technological index accumulates a rise of more than 20% so far this year, even after these correction days.
The Chilean stock market was also infected by pessimism, with the S&P IPSA falling 0.73% today, reaching 3,826.07 points at the end of operations.
The results were relatively cross-cutting, with only seven of the 30 shares that make up the national selective ending the day with gains, but the worst results were concentrated in the supermarket SMU, the telecommunications company Entel and the power company Engie Energía Chile. These three papers are down more than 3% today.
This environment of pessimism also infected the European stock markets, which fell en bloc today, leaving behind yesterday’s highs. Spain and France led the decreases, with a contraction of 1.78% in the Ibex 35 and 1.59% in the CAC 40. They were accompanied by drops of 1.01% in the German DAX and only 0.12% in the English FTSE 100.
All in all, the EuroStoxx 50 – which groups together the largest companies in the economic bloc – suffered a decline of 1.41% today.
These falls in Europe are supported by a relevant contraction of GDP in the euro zone, a figure that, while exceeding market expectations, nevertheless raises concerns about the state of the economy in the region after the pandemic.
Asia, yes, is a separate story. Despite the fact that the Japanese economy also reported a strong contraction in GDP, the largest parks in the area made modest profits today. Thus, the Nikkei advanced 0.80% and there were rises of 0.14% in Hong Kong and 0.54% in mainland China.
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