International Business

MEXICAN STOCKS

* The market careened through one of its most raucous sessions ever Wednesday as the Bolsa index plunged more than 250 points, then recovered to close with a loss of 70.5 points at 2,203.67.

* The market, already suffering from mounting concerns about the latest unrest in Chiapas state, dove in early trading on rumors that the government would soon allow the peso to float freely. The government had devalued the peso 15% on Tuesday, but a free-floating peso could conceivably lead to a resurgence of inflation as a result of rising import prices. Mexican authorities denied the rumors, which helped the market recover.

The Bolsa Index

Wednesday closes: 2,203.60

Source: Times wire services

SPOTLIGHT: GUATEMALA

The largely agrarian economy suffers from unequal distribution of land and a long-running civil war with leftist guerrillas. Land reform is one issue in upcoming peace talks. Lack of access to land contributes to an 80% poverty rate and 50% unemployment in an economy that has few alternatives to agriculture.

Sources: Bank of America; World Information Services