The Mexican stock exchange (BMV) fell this Friday and fluctuated in not seen since the end of February as investors digested a US employment report, which is shaping up to register its fifth consecutive week with losses.
the leading index S&P/BMV IPCwhich groups the 35 most traded shares in the domestic market, fell 0.86% to 50,095.66 points, shortly after opening.
During the week, the stock market added a fall of 2.6 percent.
On Thursday the S&P/BMV IPC fell 1.76%, to close at 50,529.95 points, while the country’s second stock market, the Institutional Stock Market (Biva), the Ftse-Biva index fell 1.74 percent and closed the day at 1,046.99 points.
Yesterday, the Nasdaq recorded the third largest loss of points in its history, after the two black sessions on March 12 and 16, 2020, at the beginning of the covid-19 pandemic.
US stocks closed sharply lower on Thursday as investor confidence slumped on concern that rising US interest rates Federal Reserve of the United States is not enough to control rising inflation.
After the Fed’s 50 basis point increase in yields, markets expected that a 75 basis point increase could be given in the future to control inflation. Nevertheless, Jerome Powellindicated that it is unlikely that this increase will be reached at the next meeting.
Traders, however, on Thursday raised their bets on a 75 basis point hike at the Fed’s June meeting, which would help control inflation.
Concerns about the Fed’s monetary policy moves, mixed earnings from some tech companies, the war in Ukraine and China’s pandemic lockdowns have punished wall street recently, overshadowing a better-than-expected quarterly earnings season.
(With editorial information)