Macri Massacre Cuts Stocks In Half Today As Argentina Slides Into The Abyss

Posted on August 12, 2019 4:07 pm

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Update 2: In a stunning move, Argentina’s MERVAL stock index was cut in half today, crashing 48% in USD terms on the day.

Source: Bloomberg

As Bloomberg reports, this is the second-biggest one-day rout on any of the 94 stock exchanges tracked by Bloomberg going back to 1950.

Source: Bloomberg

“The market is starting to price in default,” said Edwin Gutierrez, the London-based head