Latin American stocks try to rebound

Stocks and finances in Latin America improved today after over a week of downturns and big losses:

• Peru’s primary stock index was one of the world’s busiest and has thus far rose over 5%
• Brazil’s currency made its greatest gains since 2002
• Mexico’s peso and benchmark bond rose

Today’s global rebound was triggered by the Federal Reserve cutting the discount rate by 0.5%. Still, it remains to be seen if today’s actions will push the market away from a crisis triggered by sub-prime mortgages in the U.S.

Image- MSNBC (2006 photo of the Tokyo Stock Exchange)

Sources- Bloomberg, CNNMoney.com, The Latin Americanist