UPDATE 2-Chile stock exchange, peso plunge after govt suffers defeat in constitution vote Reuters 2 hrs ago
(Updates market movements)
SANTIAGO/LONDON, May 17 (Reuters) - Chile s peso plunged on Monday and its IPSA stock exchange took a sharp hit after the ruling center-right coalition failed to secure a critical one-third of seats in the body that will draft a new constitution, hindering its ability to check more radical proposals.
With 90% of votes counted on Sunday, results showed candidates backed by President Sebastian Pinera s Chile Vamos coalition had won only a fifth of seats, while independents picked up the most votes.
The IPSA stock index had fallen 9% at 9:49 a.m. local time (1349 GMT).
Chile s peso plunged on Monday and its IPSA stock exchange took a sharp hit after the ruling center-right coalition failed to secure a critical one-third of seats in the body that will draft a.
Chile's markets plunged on Monday after voters propelled leftist and independent groups to victory in an election over who will draft a planned new constitution, a major blow to the center-right ruling coalition that fared far worse than expected.
Chile markets plunge after government hammered in constitution vote financialpost.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from financialpost.com Daily Mail and Mail on Sunday newspapers.
GRAPHIC-Latest COVID-19 wave less damaging for emerging market stocks Reuters 5 hrs ago
By Tom Arnold and Marc Jones
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LONDON, May 7 (Reuters) - Huge COVID-19 outbreaks in India, Brazil and Turkey have put developing economies at the epicentre of the pandemic, but their reluctance to fully lock down combined with hopes of vaccine progress globally appear to be desensitizing markets.
A move on Wednesday by the United States to back giving poorer countries access to vaccine blueprints has been widely welcomed - but it won t immediately close the widening gap in their rollout compared with developed nations.
Brazil, India and Mexico are among the five countries with the highest death rates from coronavirus, and low-income countries are estimated to need $200 billion over five years to battle the pandemic.