Merval Plunges After Provincial Elections
2025-09-08 14:35
By
Felipe Alarcon
1 min. read
Argentina's Merval index plunged below the 1,800,000 level, its lowest since October last year after touching a record at the start of this year, as a deepening political crisis shook investor confidence.
President Javier Milei’s ruling coalition suffered a resounding defeat in the Buenos Aires provincial elections, which may complicate his reformist agenda, and corruption allegations involving his sister have further destabilized confidence, triggering a spike in bond yields, renewed pressure on the peso and market intervention to shore up the currency ahead of increasingly volatile midterm elections in October.