In New York, the Dow Jones Industrial Average reported a minimal gain of 0.11% with a total of 41,478 points by noon. Meanwhile, the Nasdaq climbed 1.27%, reaching 17,657.94 units, and the S&P 500 advanced 1.21%, standing at 5,610.18 units. Despite this recovery, financial analysts warn that the markets remain alert to any information that may arise, whether from the United States or another country, regarding the effects of the trade war, which could bring the Stock Exchanges back into negative territory.
On the other hand, the Mexican Stock Exchange (BMV) reported a gain of 0.65%, equivalent to 335.09 points, bringing the Price and Quotation Index to 51,845.77 units. The Institutional Stock Exchange (BIVA) also showed an increase of 0.78%, equivalent to 7.93 points, with a preliminary note of 1,049.48 units for its main indicator.
Regarding the exchange rate, the Mexican peso confirmed a reversal after seven consecutive days of gains that had brought the price of the dollar to a minimum of 20.19 pesos in international and interbank operations. Despite fears of an economic recession due to the global tariff war initiated by the United States, the exchange rate reached a maximum of 20.30 pesos per dollar by noon on Wednesday, March 12, 2024. At bank counters and currency exchange houses, the free dollar, available to the general public, recorded a minimum price of 20.30 pesos and a maximum of 21.41 pesos per greenback.
The Stock Exchanges in Mexico seemed to breathe on Wednesday despite the implementation of the 25% tariffs by the United States on steel and aluminum. After two sessions of losses and fluctuations directly influenced by the impact of the trade war by the United States, the financial markets in Mexico took a breath.
