Mexico's main stock index ends the week down 1.78%
Mexico's benchmark S&P/BMV IPC closed Friday down 1.78% below the 53,700 mark. The slide came on the back of a sell-off on Wall Street and a renewed spike in global bond yields. The index also ended the week in the red, mirroring weakness across other major Latin American stock markets.
Mexico's benchmark S&P/BMV IPC index fell 1.78% on Friday to close at 53,696 points, with banking and retail shares leading the slide, according to Investing.com data. Banorte and Walmex were among the day's most heavily sold names.
The drop came on the heels of two consecutive sessions of selling on Wall Street. US inflation data that came in above expectations pushed global bond yields higher again, putting pressure on emerging-market equities and currencies.
The Mexican peso also weakened against the dollar at the close of the session. Colombia's index fell 0.98% and Russia's MOEX shed 0.96% in the same window. Analysts said pressure on Latin American markets could persist into next week if uncertainty over the Federal Reserve's rate-cut timetable remains in place.
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