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EMERGING MARKETS-Mexico peso, stocks weaken ahead of key Trump speech

MEXICO CITY, Feb 28 (Reuters) - Mexico's stock market and peso weakened on Tuesday ahead of a key speech by U.S. President Donald Trump that could affect local markets.

Mexico's peso weakened almost 1 percent to close at 20.105 per dollar hours before the 9 p.m. EST (0200 GMT Wednesday) speech by Trump, which could contain details on his economic and trade policies that could hit Latin America's second-largest economy.

Stocks in major markets also dipped and the Dow Jones Industrial Average snapped a streak of records while longer-dated Treasury yields fell as investors prepared for Trump's address to a joint Congress session.

Mexico's IPC stock index (. MXX) fell more than 1 percent, also under pressure from shares in broadcaster Grupo Televisa , which reportedly could face new rules against it.

A Mexican ETF fell the most in a month on Tuesday ahead of the speech.

Stock indexes Latest Daily YTD pct pct change change MSCI Emerging Markets 936.37 -0.42 8.59 MSCI LatAm 2,600.09 -0.62 11.08 Brazil Bovespa 66,662.10 closed 10.68 Mexico IPC 46,856.79 -1.04 2.66 Chile IPSA 4,359.88 0.31 5.02 Chile IGPA 21,811.38 0.32 5.20 Argentina MerVal 19,117.45 -2.15 13.00 Colombia IGBC 9,888.92 -0.7 -2.36 Venezuela IBC 35,710.09 2.22 12.63 (Reporting by Miguel Angel Gutierrez; Additional reporting by Saqib Ahmed; Editing by James Dalgleish)