Colombian stocks went down after U.S. Congress voted against a bailout
plan for banks, but the damage literally wasn’t half as bad as it was
to other markets in Latin America and the rest of the world.
Markets all over Latin America went down after the Down Jones Index plummeted nearly 7 percent and the Nasdaq went down even further, losing more than 9 percent. Colombia’s main index, COLCAP lost (only) 2.33 percent.
The peso did go down fast and had lost 5 percent of its value by the end of the day. The U.S. dollar, starting the day at COL 2,090, was worth 2,190 by the end of the day.
Other currencies in Latin America went down as fast as the peso, but COLCAP didn’t see it’s figures go as deep into the red as its neighbors. Brazilian stocks lost over 9.3 percent of their value, the Mexican IPC index lost 6.4 percent, Buenos Aires went down 8.7 percent and Chilean stocks lost 5.5 percent.