Investors fear slowdown in Colombian economy

Colombian stocks declined Wednesday on their first day of trading in the new year, dragged down by financial firms as investors worried over a slowdown in the local economy.

Even as other markets around the globe climbed on the news of a budget compromise in the U.S., the Colcap index, a benchmark for the Colombian Stock Exchange, fell 0.43 percent to end at 1,824.93 points.

Bancolombia, Colombia's largest bank in terms of deposits, fell 2 percent Wednesday on concerns that a reduction in bank lending will accompany a slower economy.

Source: Wall Street Journal