Alexa
  • Directory of Taiwan

Latam stocks echo drops in Europe, US markets

Latam stocks echo drops in Europe, US markets

Latin American stocks were falling Wednesday in line with a poor U.S. retail sales report and sharp drops in Europe.
The Ibovespa stock index dropped 0.97 percent to 41,583 in early-afternoon trading. Shares were down across the board.
Petrobras _ the state run oil company _ was off 1.3 percent. Mining company Vale fell 2.2 percent. Together the companies represent 30 percent of the index.
Analysts say a December retail sales report in the U.S. that was worse than expected is spooking investors.
The U.S. and Europe are the main destinations for Brazilian exports.
Poor economic indicators in either tend to push Brazil's stocks down, as fears grow demand for Brazilian good will diminish.
Stocks also fell in Latin America's second-largest economy: Mexico's IPC index slipped 1.2 percent to 20,795; Colombia's IGBC index fell 0.84 percent to 7,682; Chile's IPSA index dropped 1.2 percent to 2,441, and Argentina's Merval index fell 2.4 percent to trade at 1,105.


Updated : 2021-07-29 21:42 GMT+08:00