The Mexican stock exchange (BMV) fell sharply in trading this Friday, extending the weekly decline. Two days after the biggest US rate hike in more than 20 years, prices continued to trend as markets weighed in on US employment figures.
The index reference S&P/BMV IPC, which groups the 35 most traded shares in the country, lost 1.96% and closed at 49,541.81 units, its worst closing since November 26. In its fifth consecutive weekly drop, from 51,417.97 units, the index fell 3.65%, and during its weekly streak, 12.49 percent.
Within the reference index, most of the components ended the session in negative territory, with 30 values in red and only five in green. The worst performances were those of Banbajío’s shares, with -9.57%; the BMV Group, with -4.70%, and the communication giant Televisa, with 4.44 percent.
The Federal Reserve The Fed raised its key interest rate by 50 basis points on Wednesday to combat persistent inflation. The increase was the largest since 2000, more than 20 years ago. Inflationary pressures continue and nervousness grows due to the possibility of low economic growth.