Chilean Assets Slump as Government Suffers Crushing Vote Defeat Bloomberg 1 hr ago Eduardo Thomson and Valentina Fuentes (Bloomberg) -- Chilean assets plunged after the ruling coalition suffered a crushing electoral defeat that placed the writing of a new constitution largely in the hands of left-wing parties. The benchmark stock exchange tumbled 7%, while the peso cratered as much as 2.9% to 720 per dollar, on track for the biggest decline since November 2019 when a series of protests wracked the country. Chile’s dollar bonds due in 2031 dropped to a two-month low. Candidates from the ruling coalition obtained just 37 of 155 seats on the assembly designed to write a new constitution, according to data consultancy firm Unholster, far less than expected. Contenders unaffiliated with any political parties secured 65 seats. The result deprived the right of the one-third threshold they needed to reach to veto clauses in the new charter.