BMV falls for the fifth session; outlines its biggest weekly drop since January

The Mexican stock exchange (BMV) fell this Friday morning for the fifth consecutive day, shaping up to register its biggest weekly drop since mid-January, given signs that the Federal Reserve (Fed) could adopt a more restrictive monetary policy and persistent concerns about the war in Ukraine.

the leading index S&P / BMV IPCwhich groups the 35 most traded shares in the domestic market, fell 0.74% to 54,871.06 points, with an accumulated decline of 3.07% in the week, due to an adjustment after having reached a new historical maximum level.

“In the absence of relevant economic indicators, the markets will continue to assimilate the recent statements by some members of the Fed, and the development of the geopolitical conflict,” said analysts at Grupo Financiero Ve por Más.

For their part, the main stock market indices in the United States also fell at the opening, dragged down by shares sensitive to the prospects for economic growth and technology, while bond yields rose due to the scenario of aggressive interest rate hikes by the Fed.

In early trading, the Industrial Average dow jones it fell 14.3 points, or 0.04%, to 34,569.24 units; while the S&P 500 index lost 6.1 points, or 0.13%, to 4,494.15 units; and the composite index nasdaq it fell 66.8 points, or 0.48%, to 13,830.47 units.


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