BMV falls below 50,000 points due to impact of new variant of Covid-19

The Mexican stock exchange (BMV) lost in its first operations this Friday dragged by a global wave of aversion to risk assets, due to concerns that a new variant of Covid-19 it could slow down the recovery of the economy.

The local benchmark S&P/BMV IPC It fell 1.92% to 49,651.80 points, at 8:37 am.

The new variant was detected in South Africa. The European Union and the United Kingdom are among those who have tightened border controls, as scientists try to find out if the mutation is resistant to vaccines.

Investors are overreacting and are clearly speculating that a rapid spread of a more brutal Covid-19 strain could once again derail the global economy, “CI Bank said in an analysis note to its clients.

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