Argentina’s stocks, bonds and currency tumbled on Monday after President Javier Milei’s party lost by a landslide in elections for the country’s largest province, ahead of midterm national polls that will be pivotal for his reform drive.
Dollar bonds dropped about five cents on the dollar, some of the biggest losses since before Milei secured a $20bn IMF bailout this April.
Argentina’s Merval stock index, already the worst performing market in dollar terms among almost a hundred major global bourses this year, was down nearly 10 per cent on Monday.
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