Mexican stocks tumbled Tuesday with profit-taking after recent record highs and a disappointing second-quarter report on the economy.
The market’s key IPC index slid 283.51 points, or 1.9 percent, to 14,559.19. Volume totaled 118.0 million shares.
After closing Monday at a record 14,802, the market was pulled down early by sinking U.S. shares. Pressure picked up after the Treasury Department reported that the economy grew 3.1 percent during the second quarter, well below expectations of a 3.9 percent rise. That followed a weak 2.4 percent rate of growth during the first three months.
B shares of copper miner Grupo Mexico fell 2.2 percent to 20.30 pesos. Wireless provider America Movil’s L shares fell 2.8 percent to 11.62, fixed-line operator Telmex L shares lost 1.1 percent to 10.23 and retailer Wal-Mart de Mexico V shares slid 2.8 percent to 48.64.
More: businessweek.com
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