Economy & Business - January 2008 (ISSN 1741-7430)

Latin America's main stockmarkets followed Asian and European markets and fell heavily on 21 January, when the US markets were closed for Martin Luther King Day. All the markets are worried about the prospect of a recession in the US. The sellers ignored the argument that South America is less vulnerable than a lot of other areas to a recession in the US: the Brazilian stockmarket index, fell further than the Mexican index, yet Mexico is much more dependent, economically, on what happens in the US than Brazil.

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