BOGOTA (Dow Jones)--The Colombian stock index fell Friday, dragged down by stocks in the U.S.
The benchmark IGBC stock index ended 2.1% lower at 10,921.26 points.
U.S. stocks also tumbled Friday, with the Dow Jones Industrial Average falling more than 240 points as investors are concerned whether the DJIA's 48% increase since March is justified after seeing mixed economic data over the past couple of days.
"The market here is concerned about what may happen in the U.S.," said Monica Agudelo, a market analyst with local brokerage Asesores en Valores. "The good GDP growth on Thursday in the U.S. made people worry on Friday as it seems the growth was boosted by government spending," she said.
The most-traded shares were those of Colombia's largest holding firm, Grupo de Inversiones Suramericana SA (GRUPOSURA.BO), which fell 4% to 22,500 Colombian pesos ($11.28), while the preferred shares of the country's largest bank, Bancolombia SA (CIB), fell 3.5% to COP19,700.
The Colombian peso weakened to COP1,994.1 to the dollar from COP1,975.05 Thursday, while the yield on the 2020 benchmark peso-denominated government ended at 8.400%, from 8.395% Thursday.
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