The Chilean index dropped 0.8%, while in New York, the Dow Jones lost 1% and the S&P 500 fell 0.5%. The yield on the 10-year Treasury reached highs not seen since November.

Global stock markets retreated amid rising borrowing costs in the United States, which rose again on Thursday after first-quarter GDP showed limited progress in the Federal Reserve’s inflation control campaign.

The S&P IPSA fell 0.82% to 6,311.56 points at the close of the Santiago Stock Exchange, with shares of Quiñenco (-4.38%), CMPC (-3.49%), and Copec (-3.05%) leading the day’s losses. 20 out of the 29 IPSA stocks closed in the red.

Yesterday, Wednesday, the index fell sharply dragged down by SQM-B (-0.69%), which today recovered slightly after unveiling its investment plans. However, its Chinese partner Tianqi once again expressed disagreement about the estimated timeline to finalize the alliance with Codelco, continuing the noise surrounding SQM.

Selling pressure has been felt in significant stock markets. The Dow Jones lost 0.98%, the S&P 500 fell 0.46%, and the Nasdaq dropped 0.64% at the close of the New York Stock Exchange. Meta (-10.56%) stood out negatively among technology companies after disappointing yesterday afternoon with its revenue and cost projections. Now it’s time for Microsoft (-2.45%) and Alphabet (-1.96%) earnings.

Wall Street’s decline on Thursday came alongside the first reading of first-quarter GDP in the US, which pushed the yield on the 10-year Treasury bond up to 4.7% for the first time since early November.