| Log In | Register Now
Mexico's IPC stock index fell 1.28 percent or 243.36 points by midday trading on Wednesday to 18,792.87 points after Wall Street markets fell amid fears that the U.S. Congress will not approve a rescue plan for the automobile sector of that country, including General Motors (NYSE:GM), Ford (NYSE:F) and Chrysler.
"The chance that General Motors could go bankrupt has been one of the factors of pressure in the latest [trading] sessions," said Jaime Ascencio, an analyst for Actinver Fondos de Inversion.
Automaker executives today requested aid from the U.S. Congress for a second $25 billion package. Vehicle sales at General Motors and Ford Motor Co, have dropped to levels not seen in 25 years as consumers are unable to get loans to buy cars due a financial crisis which has frozen credit markets.
First Photos of Beyonce’s Baby Blue Ivy Carter Reignite Surrogacy Rumors [PHOTOS]
Diet Soda: Research Sparks Debate on Risks of Heart Disease, Stroke
Free Edition
TAKE A TOURWe value your privacy. Your email address will not be shared.
