Stocks in industries in which Chilean President-Elect Gabriel Boric has promised more oversight led losses Dec. 20 in Santiago, according to Bloomberg. The IPSA fell as much as 7.5 percent.
Lithium producer SQM’s B series shares fell as much as 12.4 percent, the biggest intraday loss since March 2020, while its ADRs slumped as much as 13.8 percent. Boric’s program includes the creation of a new national lithium company. SQM, which also produces fertilizer, is the world’s no. 2 lithium producer.