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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.
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