Colombian stocks plummeted, following serious drops in Europe and Asia.
The IGBC index fell 5.7 percent, together with other Latin American
markets.
Brazil’s main stock index plummeted more than 10 percent in early
trading Friday after steep declines in Asia, Europe. Other Latin
America markets fell sharply as well.
The Ibovespa stock index
fell 10.2 percent to 33,303 in just the first half-hour after markets
opened, triggering a “circuit-breaker” rule that halted trading for 30
minutes.
Global financial turmoil has wiped out two years of
stock market gains in Latin America’s biggest economy, and its
once-soaring currency has been slammed as well. The real weakened to
2.3 against the U.S. dollar shortly after trading opened, after closing
at 2.2 the day before.
Mexico’s IPC index was down 3.6 percent at
19,561. The country’s peso currency was trading at 13.6 to the U.S.
dollar, down from around 12.5 on Thursday.
Chile’s IPSA fell 3.5 percent to 2,125.
Investors
worldwide now fear a widespread recession, and interventions by key
central banks have so far failed to bolster confidence.
