Walmart de México Shares Plunge Nearly 61 Billion Pesos in Worst Drop Since 2018; Femsa Falls 6.7% on 67% Profit Decline

Shares of Walmart de México experienced their steepest decline since November 2018 on the Mexican Stock Exchange, dropping nearly 61 billion pesos after the company reported quarterly profits that fell short of market expectations. This decline marked one of the worst recent performances for the retailer. In a related development, the Mexican retail conglomerate Fomento Económico Mexicano (Femsa) saw its shares fall by up to 6.7%, the largest drop since February 2024. Femsa reported a 67% decrease in net profit for the first half of the year, amounting to 669 million pesos, amid an economic slowdown in Mexico and uncertainty caused by tariff policies implemented by former U.S. President Donald Trump. These declines contributed to a broader downturn in the Mexican Stock Exchange indices, including the IPC and FTSE Biva, which both retreated at the start of the week. Meanwhile, on Wall Street, major indices opened the week with mixed results. Additionally, Bitcoin prices dropped by 0.78% to $117,822.40 per unit, and gold prices fell by 0.57% to $3,373.22 per ounce.