Home China Headline Mexican markets tumble, sparked by China selloff

Mexican markets tumble, sparked by China selloff

Mexican stocks, government bonds and the peso tumbled in early trading on Tuesday after Chinese stocks nosedived, sparking sell-offs in emerging markets. The benchmark IPC stock index dropped 3.69 percent to 27,004 points. The peso dropped 0.67 percent to 11.154 per dollar, its weakest since July. Chinese stocks dropped nearly 9 percent on Tuesday in their biggest fall of the decade amid fears that authorities would crack down on speculation that drove shares to record highs. The drop hit markets the world round, but especially emerging markets. Stocks were sharply down throughout Latin America. "People think globally and that (emerging markets) are a single group of countries, which is why people are getting out of emerging markets," said one stock trader in Mexico City. Trackback(0) TrackBack URI for this entry Comments (0) Subscribe to this comment's feed Show/Hide comments Write comment Show/Hide comment form Name Email Website Title Comment Write the displayed characters Add Comment Copyright 2007. All Rights Reserved.

 

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