lunes, marzo 30, 2020
News

Colombian Stock Exchange closed operations for 30 minutes not to lose so much

Colcap, the main stock market indicator of the local market, fell more than 10% at one point in the day, so all trades were suspended for 30 minutes.

The last time the BVC (Bolsa de Valores de Colombia in spanish) made a decision of this magnitude, which serves to protect investor’s capital, was on June 12 2006, when it fell  to 10.4%.

Although the interruption of operations lasted only 30 minutes, and when activities resumed the index recovered a bit, it continued to record losses by 9.59%.

The decline in Colombian stocks, according to dataiFX, was explained by the fall in global oil prices due to a cost war between Russia and Saudi Arabia.

Here are the stocks that report the most losses in the BVC:

  • Ecopetrol: -19.22 %
  • Bancolombia: 13.95 %
  • Bancolombia Prime: -13.93 %
  • Argos cements: -10.69 %
  • Preferencial Davivienda: -10.08 %

Wall Street also went to the ground this morning due to the low oil price and the effects of coronavirus on the global economy;in fact, the U.S. stock market also had to suspend its operations by recording drops in its stock indices.

  • Dow Jones: -5.83%
  • Nasdaq: -7.12%
  • S&P 500: -7 %