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Matthew A. Winkler

Trump Effect Crests in Mexican Markets

The rise of a hostile U.S. president sent stocks, bonds and the peso reeling. That was then.
Better days.

Better days.

Photographer: Yuri Cortez/AFP/Getty Images

Nothing in the 21st century hit investors in Mexico harder than the rise of President Donald Trump.

The peso plummeted to a record low, losing 17 percent of its value among 16 major currencies in 2016. Mexico, which for more than two decades outperformed the 26 countries that make up the emerging market, saw its companies suffer their biggest share losses since at least 1994, when such data was first compiled. Mexico’s bonds, the emerging market favorite since at least 2010, when figures were first published, collapsed in an unprecedented reversal, according to data compiled by Bloomberg.