Mexico Stock Exchange Takes A Hit After Presidential Elections Results

The IPyC index of the Mexican Stock Exchange (BMV) experienced a 6.01% decline on Monday, following the presidential elections held on Sunday. Claudia Sheinbaum, who is 61 years old, will become Mexico’s first woman to hold the presidency. She was elected with approximately 60% of the votes by the coalition Let’s Continue Making History and will be replacing President Andrés Manuel López Obrador. Both Sheinbaum and López Obrador are members of the left-wing Morena party.

The level of decline on Monday had not been seen for a single trading session since March 9, 2020, at the beginning of the pandemic when the IPyC fell by 6.42%. Since January 2000, the IPyC has only had drops greater than that of June 3, 2024, on three occasions in addition to the pandemic. These include April 14, 2000, with a fall of 7.93%, October 22, 2008, with a reduction of 7.01%, and September