Argentine financial assets faced heavy selling pressure on Thursday, with the domestic S&P Merval index closing 3.2% lower.
The decline was even steeper for Argentine equities trading on US exchanges, which fell by as much as 10%, significantly underperforming the broader New York market where major indices slipped by up to 1.5%.
The selloff was accompanied by a sharp rise in sovereign risk metrics.
Argentina’s country risk spread widened to 410 basis points, reflecting renewed investor caution toward the economy.
Meanwhile, the local dollar exchange rate held steady at 1,495 pesos, providing a narrow buffer against the equity and bond market turbulence.
The move in Argentine assets amplified a negative trend across global markets, centered on weakness in Wall Street.