MEXICO CITY — Stock prices on the Mexico City exchange, one of the world's fastest growing financial arenas for more than a year, continued falling Tuesday, a day after its leading index plummeted a record 18.32%.
Analysts attributed the plunge to investor disappointment that a market rescue plan, widely expected to be signed last week, apparently has foundered. They also pointed to boosts in interest rates that make other investments, such as government bonds, more attractive.
The 52-stock index of prices and quotations fell 8.85% on Tuesday, or 9,267.48 points, to 95,484.16. On Monday the index closed at 104,751.64, down 23,502.43 points from Friday.
Since peaking at 373,216.24 on Oct. 6, the index has lost 74.4% of its value as of Tuesday's close.
The financial newspaper El Financiero quoted investors as calling it "the blackest Monday in history" and asking what had happened to the widely discussed rescue plan designed to prop up the exchange.