[ad_1]
The Chilean stock market has its own problems. With or without Trump’s tweet, the fate of the IPSA would not have changed much.
After spending the weekend in a medical center after contracting the coronavirus, Donald Trump returned to the White House. All good for the markets. The president of the United States on Tuesday focused on the expected stimulus plan to prop up the economy, but made the decision to postpone the millionaire package until after the elections. All bad for the markets.
Through his Twitter account, the president announced in the afternoon that asked government negotiators to end talks for a new economic stimulus plan they were holding with the Democratic representatives. Trump accuses that the amount asked by Democrats would not aim to support the economy, as it is “to rescue poorly managed and high crime Democratic states, money that is in no way related to COVID-19.”
Wall Street was sailing with a tailwind, but after the message on the net of the little bird the wind changed direction and hit in the face. After gaining almost 1% on the day, the Dow Jones went into negative territory and lost 1.34%. The S&P 500 and the Nasdaq took the same trend, indicators that fell 1.4% and 1.57% respectively.
Old continent is saved
In Europe investors have to give thanks that the time difference allowed the stock exchanges were closed after Trump’s announcement. That is why in the old continent the end-of-day bells sounded when the markets were hoping with the stimulus plan.
Given the above, the Spanish Ibex ended the day as the leader in the area with an increase of 1.44%. The day in Madrid had the jump of more 6% of Santander after the appetite for banks that has been opened in the region and the support of some investment banks.
The rest of the squares ended the day with more moderate increases. For example, France’s Cac 40 rose 0.48% and Germany’s Dax 0.61%.
IPSA enters “uncertainty”
The Chilean stock market has its own problems. With or without Trump’s tweet the fate of the IPSA would not have changed much. And the fact is that Chilean stocks are in plebiscite mode, so the uncertainty of the October 25 elections, added to an increase in violence, is leading investors to rearrange local assets in their portfolio.
The selective ended the day with a drop of 1.47%, which is why the SP IPSA is trading at 3,621.71 points. ILC, Mallplaza and Parque Arauco were the papers with the worst yields with decreases of 5.49%, 4.29% and 4% respectively.
[ad_2]
