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Latam currencies, stocks plunge on crisis fears

Posted on 03 October 2008

From Guardian: Latin America’s major currencies tumbled on Thursday to their weakest in at least a year and stocks plunged as investors worried about a snowballing credit crisis and prospects of slower global growth.

Brazil, the region’s largest economy, watched its currency slide almost 5 percent and its stock market dive nearly 8 percent, while Mexican stocks also dropped more than 4 percent. Investors were focused on a vote expected in the U.S. House of Representatives on Friday over a $700 billion bailout plan of the U.S. financial sector.
But doubts that the rescue plan will be enough to thaw frozen credit markets heightened concerns the crisis could drag on the global economy….. Full Article: Source


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