Major stock markets rebounded from losses in a session marked by rising coronavirus cases in China. the conflict in Ukraine and better-than-expected relevant data in the US and China. In addition, attention has focused on the Fed meeting that ends this Wednesday. Oil, for its part, is falling and is already below US$100 a barrel.
The Federal Reserve began its two-day meeting, and it is expected that tomorrow it will announce an interest rate hike, especially after knowing relevant data that would support said decision. On the other hand, the session began in negative territory in the main markets of the world due to a rise in infections in China, which has brought fears about its consequences in the global economy.
Wall Street ended with gains that exceeded 1% due to optimism due to macroeconomic data published on Tuesday. The drop in oil also sowed optimism in the world’s main stock market.
In Europe, stock markets closed with slight setbacks, and attention is focused on the war between Ukraine and Russia, where negotiations between the parties resumed on Tuesday.
At press time, WTI oil fell 7.98% to US$94.85 a barrel, while Brent fell 7.98% to US$98.37 a barrel, after hitting highs of over US$130 per barrel over the past week amid the Russian invasion of Ukraine.
The Santiago Stock Exchange, for its part, ended its operations with profits. The IPSA advanced 0.75%.
“In the context of the geopolitical conflict between Russia and Ukraine, we can see that the talks continue. Where if we see more agreements, they could give greater peace of mind to the markets in general, and could empower emerging markets”, said José Tomás Riveros of Capitaria.