Mexican Economy: US recession fears loom over Mexico

"Ah, Mexico, so far from God, so close to the United States." (President Porfirio Díaz). And it gets closer by the day.

US recession fears loom over Mexico | Reuters: "Mexico tried to reassure investors that a global markets rout would not spark an economic crisis even as recession fears in the United States, its key trading partner, pounded Mexico's currency and stocks.

Mexico's peso sank to a seven-month low on Monday and stocks tumbled almost 6 percent in the first day of trading after Standard & Poor's stripped the United States of its top-tier credit rating."