Colombian stocks and peso hit by global financial woes

Colombian stocks and the peso
currency were dragged lower on Wednesday by the sliding U.S.
stock market as investors fretted about a possible global
recession.

The Andean country’s bourse lost 6.4 percent while the peso
fell 2.48 percent to 2,316 per U.S. dollar as investors fled
risky emerging market assets.

U.S. stocks meanwhile extended losses after the Federal
Reserve said economic activity weakened across the United
States in September as businesses reconsidered capital
investments and consumers cut back spending.