Mexican stocks fall sharply to 6-week low

MEXICO CITY Fri Nov 9, 2012 12:27am IST

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MEXICO CITY Nov 8 (Reuters) - Mexcian stocks slumped to their lowest in six weeks on Thursday as global markets fell on mounting concerns about U.S. lawmakers' ability to avoid a "fiscal cliff" that threatens the U.S. economic recovery.

The IPC stock index fell 1 percent to 40,597 points, its lowest since the end of September.

The index broke below its 100-day moving average in the previous session and some traders are eyeing a further drop of about 3 percent to its 200-day average.