The 1994 Mexican financial crisis, which caused a sharp fall in Mexico’s stock market, is commonly called the Mexican peso crisis.
The crisis began after Mexico devalued the peso in December 1994. Investors rapidly withdrew capital, and the currency lost much of its value. The resulting turmoil spread into Mexican financial markets and created serious pressure on banks and businesses.
The episode is also widely known internationally as the Tequila Crisis, but “Mexican peso crisis” is the standard name of the English Wikipedia article and the clearest answer to this question. It followed years of large capital inflows and a growing current-account deficit.
The United States and the International Monetary Fund helped assemble a major support package in 1995. The crisis was primarily a currency and financial crisis, although Mexico’s stock market also suffered heavily.