Mexican Stocks Notch Widest 1-Day Rally Versus S&P 500 Since 1998 As Trump Spares Mexico From Tariffs

Mexican equities staged a historic rally on Thursday, defying a global market sell-off.

When President Donald Trump announced steep trade tariffs targeting key U.S. partners, he spared Mexico and Canada.

The United States-Mexico-Canada Agreement (USMCA)—a trade agreement that went into effect on July 1, 2020—shields U.S. neighbors from the immediate fallout.

The decision surprised market participants, who had expected a heavy tariff on the Central American economy. After all, Mexico runs a large trade surplus in goods with the U.S.

See Also: Friday’s Jobs Report Could Be Make-Or-Break Moment After Trump’s Tariff Shock

Mexican Equity ETF Outperforms S&P 500 By Widest Margin Since September 1998

The iShares MSCI Mexico ETF (NYSE:EWW), a popular vehicle for U.S. investors seeking exposure to Mexican equities, surged 4.5% on the day. This marks its strongest one-day gain since June 2024.

Its performance was aided by the Mexican peso, which rose 1.4% against the dollar.

Meanwhile, the SPDR S&P 500 ETF Trust (NYSE:SPY) plummeted 4.8%. ...

https://www.benzinga.com/government/regulations/25/04/44637959/mexican-stocks-notch-widest-1-day-rally-versus-sp-500-since-1998-as-trump-spares-mexico-fr