Mexican stock market falls to worse level in more than five years


The Mexican Stock Exchange operates at its lowest level since March 2014

The Mexican Stock Exchange (BMV) falls strongly and operates at its minimum level of more than five years in the face of a wave of global risk aversion resulting from the publication of weak economic data in China and the eurozone that triggered new fears of a global recession

The benchmark S & P / BMV IPC index, made up of the shares of the 35 most liquid firms on the market, fell 1.28 percent to 38,971.03 points at 8:51 a.m.

This is its worst intraday level since March 2014. Investors closely followed the development of Argentine financial markets.

Banco Base indicated that the growth of the Eurozone was confirmed weak, being located at a quarterly rate of 0.2 percent, while in China data were published indicating that the country’s industrial production grew at an annual rate of 4.8 percent in July, the slowest growth rate of the indicator since February 2002.

On the other hand, the shares in Wall Street fall into the opening as the bond market sent new signs of recession risk, erasing yesterday’s profits.

The Dow Jones industrial average lost 244.83 points, or 0.93 percent, to 26,035.08 points, along the lines of other large global markets after disappointing economic data in China and Germany.

The S&P 500 index dropped 32.17 points, or 1.10 percent, to 2,894.15 units, and the Nasdaq Composite yielded 139.03 points, or 1.73 percent, to 7,877.33 units.

Source: el financiero, el economista