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The Santiago Stock Exchange It closed in red this Wednesday, after the government decreed a massive and mandatory confinement throughout Greater Santiago because of the spread of the pandemic.
The Selective Stock Price Index (IPSA) -which measures the price variations of the largest Chilean issuers listed on the Stock Exchange- fell 3.48%.
The companies hit hardest were retail: Ripley (-9.30%), Hites (-10.37%) and Tricot (-7.16%).
Latam, meanwhile, lost -5.08%; and MallPlaza -4.99%.
The local market was not the only one that moved in pessimistic terrain: this day the European stock markets closed with falls, after not very encouraging comments in the United States on the health of the world’s leading economy and the prospects of a second wave of the coronavirus pandemic.
The president of the Federal Reserve (Fed, central bank), Jerome Powell, warned that the damage caused by the coronavirus pandemic to the US economy could be “Durable”; and argued that more budget support can be costly, but would avoid bigger problems.
“This (coronavirus) has caused a level of suffering that is difficult to describe in words ”he concluded.
Subsequently, the New York Stock Exchange also ended sharply lower after Powell’s warnings.
According to provisional closing results, the Dow Jones lost 2.17% to 23,247.97 points and the Nasdaq 1.55% at 8,863.17.
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