(Reuters) - Latin American currencies and stocks weakened on Tuesday, extending losses from the previous session as a world-wide rout in stock markets continued.
The Mexican peso MXN= fell 0.5 percent against the dollar which perked up slightly as the euro lost momentum due to jitters about Italian banks and the stocks rout.
Financial markets in Brazil were closed for a local holiday.
Wall Street opened lower after an Apple-led (AAPL.O) tech slide overnight triggered the global sell-off.
Investor sentiment, already marred by Sino-U.S. trade tensions, took a dive as slackening demand for iPhones added to the recent concerns of a slowdown in the global economy.
“The emerging markets fall was a spillover from yesterday and I think global investors will be watching the tech space very closely now given the run some of these stocks have had,” Chris Turner, head of EMEA and LATAM research at ING had said earlier in the day.
“It seems almost as though the last bastion of outperformers (U.S. tech stocks) have now come under pressure.”
Among stocks, Buenos Aires' Merval index .MERV dropped more than 2 percent, while Chile's IPSA shaved off 0.8 percent.
Reporting by Susan Mathew in Bengaluru; Editing by David Gregorio