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• KOF 67% Rate It
• SAN 100% Rate It

Latin American markets are lower today as concerns Spain's debt crisis is getting more dire and the Xinhua News Agency said China will seek to keep a "firm grip" on the real estate market to prevent a rebound in housing prices.

Here's where the Latin American markets stood this afternoon:

- Ibovespa down 981.69 (-1.77%) to 54,364.9609

- IPC (Mexico City) down 15.85 (-0.04%) to 40,736.68

- Santiago Index IPSA down 12.62 (-0.29%) to 4,380.22

- Merval Buenos Aires down 45.65 (-1.82%) to 2,456.89

In company news, shares of Coca-Cola FEMSA ( KOF ) are down about 0.7% after Citigroup initiated coverage on the stock with a Neutral rating.

Elsewhere, U.S.-listed shares of Banco Santander ( SAN ) are off about 7.7% this afternoon, with the Spanish money-center bank with extensive operations throughout Latin America earlier hitting a new 52-week low today at $5.10 each. The stock is getting an extra push lower after CNBC's Jim Cramer last night told investors during his "Mad Money" program they should sell SAN.

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