The Santiago Stock Exchange saw a sharp drop on a day when SQM collapsed due to cuts in the price of lithium. In addition, major markets fell victim to pessimism among investors after the Federal Reserve (Fed) decided to raise US interest rates again.
The IPSA, the index that groups the main shares of the Santiago Stock Exchange, fell 1.11% and was on the verge of falling from 5 thousand, after being evaluated at 5,053.3 points. While SQM, the day's top loser fell 6.06% to $ 27,149 per share.
But the collapse of the non-metallic miner's stock collapse was contained by the rise of Cencousud. The Chilean multinational business consortium recorded a 1.90% increase to US $ 1,184.5, which offset losses in the local stock market.
SQM leads the collapse of lithium companies by cutting the mineral price estimate