Secondary Rout Gains Momentum

May 21, 2010

Fresh panic selling in Europe battered LatAm markets Thursday and while some observers say EM may again decouple from the developed world, the region appears vulnerable to further losses. The Bovespa hit a 6-month low at 58,192, down 2.5% on the day and more than 8.2% on the week. Mexican stocks meanwhile lost 2.0% to 30,368 and are down over 4.5% so far this week. “[European debt troubles are] definitely setting the tone...

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