Arrow-right Camera
News >  Nation/World

Mexican Markets Slump Despite Bailout

The signing of a $20 billion loan package Tuesday failed to boost the Mexican stock markets or the peso.

A sharp rise in interest rates, made as part of the package’s conditions, drew investors away from the stock market. And the peso weakened on expectations that the package would fail to soften Mexico’s economic pain.

The stock market’s main IPC index was down 86.95 points, or 4.92 percent, closing at 1,679.19. The battered peso weakened to 5.60 to the dollar, down from 5.55 Monday.

Top stories in Nation/World

Syria says capital is free of militants after defeat of IS

new  Syria’s military said Monday it has retaken the last neighborhoods in southern Damascus held by the Islamic State group and declared the Syrian capital and its surroundings “completely safe” from militants for the first time in nearly seven years.