South American Indices Join Global Equity Weakness

LatAm equities not spared from the downtick in global equities

• Brazil's IBOVESPA is at the week's lowest levels but holds just above the 108k printed on Sep20. Further weakness through here would put Brazilian equities at their lowest levels since November last year.
• Chile's S&P IPSA also hitting fresh multi-month lows, with the index down close to 2.0% as local equities come under pressure from the deteriorating domestic political situation (impeachment papers, continued polling in favour of left-leaning Gabriel Boric). Stocks are now at their lowest levels since late July, nearing first support at 4113.60.
• The MexBol is faring slightly more favourably, and holds clear of the September lows at 50,402. Nonetheless the index is still off 0.7% or so, with healthcare and communication services dragging the index lower.