Mexican stocks and peso drop amid judicial reform concerns

Mexican financial assets faced significant declines on August 27, 2024, as the iShares MSCI Mexico ETF dropped 2.8%, following a 2.3% fall the previous day. The peso fell to 19.73 per U.S. dollar, its lowest since December 2022. Concerns stem from President López Obrador's controversial judicial reform proposal, which could undermine judicial independence and faces a critical congressional vote by September 2024.