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MEXICO CITY, Nov 9 (Reuters) - Mexican stocks fell sharply
on Friday and the peso weakened after the fourth-largest U.S.
bank said it took a big hit from credit market losses, fanning
worries about the health of the U.S. economy.
The benchmark IPC stock index <.MXX> dropped 1.39 percent
to 28,883 points, while the peso currency <MXN=> <MEX01> gave
up 0.46 percent to 10.882 per dollar.
Telecom bellwether America Movil <AMXL.MX>, Latin America's
largest cell phone company, lost 0.93 percent to 31.82 pesos.
Its New York-traded shares <AMX.N> dropped 1.15 percent to
$58.50.
U.S. bank Wachovia Corp <WB.N> said it lost about $1.1
billion on mortgage securities in October, as a year-long
credit market slump in the United States shows no signs of
abating.
Mexican stocks have slumped about 10 percent in the last
two weeks on worries about the U.S. economy.
(Reporting by Jason Lange; Editing by James Dalgleish)
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Keywords: MARKETS MEXICO/