Colombia Stock Market Falls 1% as Election Risk Overrides the Latin America Rebound

Summary

COLCAP Colombia today reflects Wednesday’s 0.96% drop to 2,089.76, giving back Tuesday’s bounce and more. Colombia decoupled from the regional rebound — Brazil rose 1.77% on the Iran de-escalation — because the May 31 election binary, 10 days out, overrode it. RSI 35.26 near oversold.

The Big Three

COLCAP closed Wednesday at 2,089.76 (−0.96%, −20.25 pts), erasing Tuesday’s +0.43% bounce and more. Range 2,089–2,114 — open near the high, close at the low, classic distribution. The index fell back below the cloud to the floor while the rest of LatAm rallied on the Iran de-escalation. Colombia was the regional outlier.

The driver is the calendar. With the first round 10 days out, the election binary overrides external relief, and Tuesday’s right-consolidation rally faded fast. Cepeda (Petro continuity) leads near 37–44% but cannot cross 50%; the right stays split between De la Espriella and Valencia, keeping the worst-case runoff the modal scenario.