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Markets punish cancellation of Mexican airport

Tuesday, October 30, 2018


The decision to cancel the new Mexico City airport, where construction has already begun, marked a "black Monday".

After the "consultation" -- a species of referendum -- held over the weekend, the president-elect Andres Manuel Lopez Obrador, said he would cancel the project. The peso lost value and the Mexican stock exchange index fell by 4.2 percent.

It was the worst day for the peso since November 9 2016, when Donald Trump was declared victor in the US presidential election.