Latin America Assets Lead EM Rout as Tariffs Sink Global Markets
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Latin America led a rout in risk assets Friday, with the region’s stocks posting their worst day since the pandemic and currencies slumping amid the continued fallout from US tariffs.
Currencies in Brazil, Chile and Colombia tumbled around 3% each against the dollar, with Mexico’s peso falling 2.5%. A gauge of Latin America stocks slumped 7%, pushing the MSCI index for emerging markets down. Friday’s moves marked a sharp reversal from the previous session, when Latin American assets largely bucked the global selloff seen in the immediate aftermath of President Donald Trump’s tariff announcement.