Khaberni - Mexican assets including the peso and stocks faced pressures as investors assessed the state of chaos that struck parts of the country following a security operation that targeted one of the largest drug cartels’ leader
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The S&P/BMV IPC stock index settled at 71,452 points after dropping to 70,802 points earlier in the session.
The dollar rose by 0.25% against the Mexican currency to 17.1733 pesos, though the US currency is still down about 4.80% against its Mexican counterpart since the start of the year.
Flight Cancellations
Yesterday, “Nemesio Ruben Oseguera Cervantes,” the leader of the “El Mencho” cartel (one of the largest drug cartels in the country) was killed during a raid carried out by Mexican authorities in Jalisco state in the west of the country, leading to violent clashes throughout the nation.
The U.S. Department of State issued travel warnings to several cities across Mexico, and many major international airlines canceled their flights to and from Mexico, due to the violence related to drug cartels there.
