Latam stocks, currencies slide on rate fears?|?Reuters 

Latam stocks, currencies slide on rate fears?|?Reuters

June 13 (Reuters) - Latin America's leading stock markets fell further early on Tuesday. after Mexican and Brazilian stocks fell more than 4.0 percent on Monday on concern rising global interest rates will slow economic growth.
Colombia's stock market <.IGBC> posted the steepest losses in the region early on Tuesday. falling over 6 percent. On Monday stock market authorites halted trade after a 10.46 percent plunge in the benchmark index.
Latin American currencies kept losing ground on Tuesday also. The Chilean peso. under pressure from falling prices in its chief export copper. weakened about 0.8 percent. the Colombian peso fell about 1.3 percent. the Brazilian real weakened about 0.6 percent. and the Mexican peso edged 0.07 percent lower.
The slide in emerging markets stocks was worldwide on Tuesday. with the Morgan Stanley Capital Index emerging stock market index <.MSCIEF> off 4.06 percent to 666.86.
Driving the global stock market sell off was the recent rise in interest rates around the world that is making safer markets more attractive to international investors. analysts said.
And on Tuesday. futures traders in Chicago pushed up the chances of a Federal Reserve interest rate hike on June 29 to 92 percent after May's U.S. core producer prices rose more than expected. On Monday the chances were seen at 84 percent.
In Mexico City.986.27 in its steepest plunge since September 2002.
Even though stocks have fallen sharply in recent weeks and Wall Street thinks the stock market is in a funk. individual investors who focus on picking stocks for the long-term are still poised for growth.





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