Peruvian stocks lost a record 12% of their value as local and global investors jettisoned mining shares after left-leaning nationalist Ollanta Humala won the second round of Peru's presidential elections on June 5.
The multi-billion dollar plunge reflects the fear and hostility that “market forces” instinctively bear toward an expression of the popular will in “developing” resource-rich nations like Peru.
Humala defeated the right-wing candidate Keiko Fujimori with 51.3% of the vote. Keiko is the daughter of jailed ex-dictator Alberto Fujimori.