Chile Stocks Surge as Communist Knocked Out of Presidential Race
- Front-runner Daniel Jadue unexpectedly lost left-wing primary
- Presidential election set for Nov. 21; runoff in December
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Chilean assets bucked a global sell-off after a communist presidential hopeful unexpectedly lost a primary vote before the country’s November election, making room for a more moderate candidate to move forward.
One-time student protest leader Gabriel Boric won the far-left vote with 60.4% of support, beating Communist Party candidate Daniel Jadue, a front-runner who had spooked financial markets with calls for radical economic reform.