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Lima Stock Exchange closes in the red amid a downward trend in the markets

The Lima Stock Exchange (BVL) ended Monday’s session with drag losses in the financial, industrial, mining and construction sectors in line with a fall in US stocks and an increase in fears in the face of expected rises in interest rates by the Federal Reserve.

At the end of the operations, the S&P/BVL Peru General Index, the most representative of the Lima stock market, fell by 1.93% to 19,837.75 points.

Similarly, the S&P/BVL Peru Selective Index, which is made up of the most traded shares in the local market, fell by 2.16% and stood at 522.91 units.

By sectors, those that had the most losses were: mining (-3.62%), financial (-1.07%), construction (-1.05%) and industrial (-1.02%). Meanwhile, only the construction sector ended in green with 0.14%.

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U.S. stocks fell on Monday, with the S&P 500 confirming it is in a bear market, as fears mount that the Federal Reserve’s expected aggressive rate hikes will push the economy into recession.

According to Reuters, the benchmark S&P has fallen for four days in a row, falling more than 20% from its most recent record high to confirm that a bear market began on January 3, according to a commonly used definition.

All major S&P sectors were down sharply, with only about 10 S&P 500 constituents in positive territory on the day.

Markets have been under pressure this year as rising prices, including a surge in oil values ​​due in part to the war in Ukraine, have put the Fed on track to take strong action to tighten monetary policy. .

Source: Elcomercio

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