The US stock market hit record highs but the Mexican Stock Market has dropped 6% after the election of Donald Trump.
Finally there’s a president who puts America first.
CNBC reported:
After Donald Trump’s U.S. presidential win, global investing guru Mark Mobius told CNBC on Friday that he likes Mexican stocks.
“In the case of Mexico, it looks like a great opportunity to buy stocks. The currency is down dramatically. Chances are it’ll probably stabilize at this level or go a little weaker,” said the Templeton Emerging Markets Group executive chairman. “We’re taking advantage of the volatility.”
The Mexican stock market has dropped about 6 percent since Trump’s victory, while the peso has tanked 13 percent against the dollar over the same period.
Trump’s calls during the campaign for building a wall along the southern border to prevent illegal immigration have sparked concerns about what kind of relationship the U.S. and Mexico would have under the new Republican administration.
While optimism in the U.S. over Trump’s prospects to boost the American economy has pushed the Dow Jones industrial average up nearly 3 percent and to a new high after Tuesday’s election, emerging markets have gotten hammered.
