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EMERGING MARKETS-Latam stocks slip on political, economic worries

By Susan Mathew

(New throughout, updates prices) By Susan Mathew Sept 24 (Reuters) - Latin American stocks slipped on Tuesday, in line with a move lower on Wall Street as political uncertainty in the United States tied in with further evidence of slowing global growth to dent sentiment. Stocks in Brazil and Mexico both lost 0.7%, while those in Colombia fell 0.3%. Chile shares gave up about half a percent. U.S. stocks declined as calls for impeachment of President Donald Trump gained momentum after U.S. Representative John Lewis became one of the most senior Democrat leaders to join the cause. Disappointing U.S. consumer confidence data, meanwhile, was the latest in a raft of recent poor economic data from around the globe that added to worries over the impact of prolonged Sino-U.S. trade war and a possible slip into recession. Argentine shares lost more than 4% in moves that have become regular for the county's markets since they were thrust into crisis mid last month when President Mauricio Macri's shock loss to opposition in presidential primaries, sent the currency and stocks into a tailspin. Among regional currencies, the Mexican and Colombian pesos made modest gains against a weaker dollar, while Brazil's real lost for a third straight session. Gradual economic growth and persistently low inflation in Brazil are likely to pave the way for a further reduction in interest rates, the country's central bank indicated on Tuesday, pointing also to deteriorating global economic conditions. The bank had cut rates by half a percentage point to a fresh record low of 5.50% at this month's meeting. Major central banks around the globe such as the U.S. Federal Reserve and the European Central Bank have taken a more accommodative stance to support growth. Emerging market central banks have also adopted a similar path. The Mexican central bank's interest rate decision is due on Thursday, with consensus expectations being for a 25 basis points cut for a second time this year. "(The Mexican peso) may be vulnerable to easing should Banxico's tone sound overly dovish," said Sacha Tihanyi deputy head of emerging markets strategy at TD Securities. "We see some risk that the market's pricing trajectory for Banxico may be overly aggressive in the near term, but this remains dependent on the flexibility provided by the Fed's easing path." Key Latin American stock indexes and currencies at 1929 GMT: Stock indexes Latest Daily % change MSCI Emerging Markets 1011.32 -0.39 MSCI LatAm 2658.81 -0.87 Brazil Bovespa 103764.44 -0.73 Mexico IPC 43198.84 -0.7 Chile IPSA 5001.05 -0.48 Argentina MerVal 27812.90 -4.406 Colombia IGBC 12953.14 -0.31 Currencies Latest Daily % change Brazil real 4.1716 -0.03 Mexico peso 19.4570 0.06 Chile peso 723.31 -0.35 Colombia peso 3433.75 0.10 Peru sol 3.341 0.42 Argentina peso 56.8800 0.09 (interbank) (Reporting by Susan Mathew in Bengaluru; Editing by Alistair Bell)