Walmart de Mexico, Latin America’s largest retailer, fell the most in four months after U.S. lawmakers said the company may have laundered money and evaded taxes in Mexico.
Shares sank 5.6 percent to 36.04 pesos at 11:20 a.m. in Mexico City, and earlier tumbled as much as 7.2 percent. It was the biggest intraday drop since April 23, a day after The New York Times reported allegations of bribery at Wal-Mart Stores Inc.’s Mexican unit. The allegations were made in a letter addressed to Michael Duke, the parent company’s chief executive officer.
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