The collapse of Macri already infects the Latin American markets

Latin America's currencies and stock markets fell on Monday because of fears about the growth of the global economy due to the continuing trade war between the United States and China, as well as the defeat of the ruling party in the primary elections in Argentina.

The economic outlook has deteriorated worldwide with the intensification of the trade dispute between the United States and China, said Monday a study by an expert.

The German Ifo Institute said in a quarterly survey of 1,200 badysts in more than 110 countries that its two measures of current economic conditions and forecasts had deteriorated in the third quarter.

The Mexican peso depreciated sharply by about 1.4% as the market waits for the central bank's monetary policy decision this week.

The S & P / BMV IPC benchmark index of the Mexican stock market dropped by more than 1% and worked below the 40,000 mark.

"Although there is no close relationship between the Argentinean and Mexican economies, the possibility of Macri losing the elections creates nervousness among market participants," said Gabriela Siller, director of badysis at Banco Base in a report.

What is happening?

In Argentina, the peso dropped about 25% after the victory of Alberto Fernández in the primary and away from the possibility of reelection of Mauricio Macri in the October elections. At the same time, the Merval index of the stock market stood at 11.6%.

The Brazilian real lost about 1.6% and the Bovespa index dropped by more than 2%.

The Chilean peso was trading at 1.03%, at 718.50 units per dollar, while the main index of the Santiago Stock Exchange, the IPSA, was at 2.05%.

A study conducted by the Central Bank of Chile with badysts showed that the market was expecting a peso of 700 units per dollar in two months and 680 units in eleven months.

The Peruvian sun has recorded a 0.47% drop to its lowest level since December 2016 and the stock market's benchmark index has increased 0.08% despite the fall in shares of the stock extractor. Copper Southern Copper.

In Colombia, the peso depreciated 1.5% after hitting a record low of 3,462.5 units per dollar in the first minutes of the session. The stock market's COLCAP index fell 0.1.205%.

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