(Adds comments from analyst)
SAO PAULO, Feb 7 (Reuters) - Mexican stocks fell again on Wednesday in the wake of the recent wild swings on Wall Street, and Brazilian equities were dragged down by shares of Petrobas.
Brazil's benchmark Bovespa index led losses in the region, down 1.34 percent in afternoon trade. Among the biggest drags on the exchange were shares of Petr??leo Brasileiro SA, which have fallen amid a decline in oil prices.
Mexico's IPC fell 0.58 percent, extending losses from Tuesday when markets opened to the news of Wall Street's biggest sell-off in six years. Analysts said they were also discouraged by early reports from companies during earnings season.
UBS Wealth Management investment strategist Ronaldo Patah said the Brazilian market would continue to be volatile until new U.S. economic data is released, particularly regarding inflation. Nonetheless, he remains bullish about the market.
"At the start, we view (the declines) as a correction, an opportunity to buy," he said.
Among currency markets, the Chilean peso rose 0.11 percent after the central bank posted a January trade surplus of $1.21 billion, up 7 percent from the previous year as prices for key export copper improved. The Mexican , Colombian and Argentine peso currencies all slid slightly in the face of a strengthening global dollar .
"You had a significant move in the dollar index to above 90, so if you're going to draw a direct line from emerging market weakness it is certainly to dollar strength," said Art Hogan, chief market strategist at Wunderlich Securities in New York.
Key Latin American stock indexes and currencies at 2036 GMT:
Stock indexes daily % YTD %
Latest changechangeMSCI Emerging Markets 1172.45 -0.321.53 MSCI LatAm3048.94 -0.978.87 Brazil Bovespa 82766.73 -1.348.33 Mexico IPC 49020.85 -0.58 -0.68 Chile IPSA5750.610.943.34 Chile IGPA 28953.980.813.48 Argentina MerVal 31607.06 -0.055.13 Colombia IGBC11736.17 -0.213.21 Venezuela IBC 3200.14 0153.35 Currenciesdaily % YTD %
changechange
LatestBrazil real 3.27110.141.29
Mexico peso 18.7350 -0.725.15 Chile peso 598.840.112.64
Colombia peso 2847 -0.644.74Peru sol 3.25 -0.18 -0.40
Argentina peso19.6850 -0.48 -5.51(interbank) Argentina peso 19.80.45 -2.88(parallel) (Reporting by Gram Slattery and Julia Love; additional reporting by Sheky Espejo, Rodrigo Campos and Walter Bianchi; Editing by Bernadette Baum and Tom Brown)
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