The extreme measure taken by the Colombian Stock Exchange not to lose so much

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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 %

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