Argentine stocks and currency CRASH on election surprise

[David48atTD]

Mauricio Macri, Argentina’s president, arrives at a news conference at the Juntos por el Cambio party headquarters during a primary election night rally in the Palermo neighborhood of Buenos Aires, Argentina, on Sunday, Aug. 11, 2019.


Key Points

• The main Argentine stock market fell 35% and the currency shed 25% of its value against the U.S. dollar after a surprise primary election result.
• Mauricio Macri lost the first round of elections by a far greater margin than expected on Sunday, early official results showed, casting serious doubt over the incumbent’s reelection chances in October.
• The primaries were viewed by many as a referendum on Macri’s painful economic reforms. The business-friendly president had promised to continue with the same austerity-driven approach if reelected later this year.

https://www.cnbc.com/2019/08/12/arge...reciation.html

[bowie]

seems nobody likes "austerity"

[VocalNeal]

seems nobody likes "austerity"

They will get more now. They should have stayed with it.

The main Argentine stock market fell 35% and the currency shed 25% of its value

[Commodore64]

They will get more now. They should have stayed with it.

Argentinian ladies are apparently fitter than Venezuelans, so there's always an upside.