Mexican Peso Falls as Ruling Party Landslide Scares Investors (2)

Mexico’s assets fell after preliminary election results showed the ruling party had won and could give it the power to increase state control of the economy and challenge its grip on power.

The peso led global losses, falling more than 4% and heading for its biggest one-day loss since June 2020, while rte-company stocks headed for their biggest decline since the financial crisis in 2008. Swap rates rose. Official forecasts showed Claudia Sheinbaum, a protégé of President Andres Manuel Lopez Obrador, winning by at least 30 percentage points.

Claudia Sheinbaum

Photographer: Luis Antonio Rojas/Bloomberg

Read more: Sheinbaum will become the first female president of Mexico-bsp-bb-link>

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