Argentina is on the brink of financial crisis after a shocking primary election saw President Mauricio Macri lose to Alberto Fernandez and his running mate, former president Cristina Fernandez de Kirschner. The S&P Merval Index plummeted 48% Monday, the second-largest single-day drop for any stock market since 1950. The Argentine peso fell 15% against the US dollar Monday, and extended losses on Tuesday. Investors are worried that Argentina will default on its debt again.
Argentina is on the brink of financial crisis after a shocking primary election saw President Mauricio Macri lose to Alberto Fernandez and his running mate, former president Cristina Fernandez de Kirschner. The S&P Merval Index plummeted 48% Monday, the second-largest single-day drop for any stock market since 1950. The Argentine peso fell 15% against the US dollar Monday, and extended losses on Tuesday. Investors are worried that Argentina will default on its debt again.
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Source: CNBC - 🏆 12. / 72 Read more »