The Mexican peso and stock market both fell over 1 percent on Monday after leftist presidential candidate Andres Manuel Lopez Obrador handily won election while his allies picked up a significant number of congressional seats.
The 64-year-old former Mexico City mayor on Sunday won with the widest margin in a presidential election since the 1980s, according to an official quick count that showed him taking more than half the vote - some 30 points ahead of his nearest rival.
His government could usher in greater scrutiny of foreign investment, and his long-running lead in the polls was a constant concern for investors and traders.
Mexico's benchmark IPC equities index had fallen 1.31 percent in morning trade, while the peso currency dropped 1.02 percent. The market is now closely watching Lopez Obrador for policy signals, said Marco Oviedo, an economist at Barclays Bank.
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