Mexico stocks slump as US data backs bets of Fed withdrawal

MEXICO CITY, July 5 Fri Jul 5, 2013 1:12pm EDT

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MEXICO CITY, July 5 (Reuters) - Mexican stocks sank on Friday after a strong U.S. jobs report backed expectations that the Federal Reserve will trim its bond purchases later this year.

The IPC stock index shed 2.13 percent to 40,322 points.

Easy U.S. monetary policy in recent years stoked bets on riskier assets around the globe and the prospect of the withdrawal of that stimulus, as well as more attractive yields in the United States, is pushing investor to now dump emerging market assets.

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