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Argentine shares on Wall Street fall almost 9% and the Merval loses 4.7%

2021-09-20T15:33:13.794Z

Bonds in dollars yield more than 2% and the country risk jumps to 1,527 units. 09/20/2021 12:14 Clarín.com Economy Updated 09/20/2021 12:14 PM The collapse of the Chinese giant Evergrande also hit Argentine stocks that start the week with a red of up to almost 9% on Wall Street. The impact of the earthquake in international markets is also felt in the Buenos Aires Stock Exchange. where the Merval index loses 5%. Like a domino effect, the fall of the stock markets in China



09/20/2021 12:14

  • Clarín.com

  • Economy

Updated 09/20/2021 12:14 PM

The collapse of the Chinese giant Evergrande also hit Argentine stocks that start the week with a

red of up to almost 9% on Wall Street.

The impact of the earthquake in international markets is also felt in the Buenos Aires Stock Exchange.

where

the Merval index loses 5%.

Like a domino effect, the fall of the stock markets in China due to the explosion of an Evergrande real estate bubble, impacted the main stock indices of the world since the opening.

On Wall Street, the Dow Jones and S&P 500 were both 1.5% and 1.6% reds before noon;

while the technological Nasdaq sank more than 2%.

In the middle of this panorama.

the papers of Argentine companies were dragged.

Those listed on the

New York Stock Exchange sank almost 9%

: the SARDs of banks, such as Macro and French, lost 8.9% and 8.8% respectively.

While Central Puerto fell 8.1%.

In the local market, the reds were lower but the S&P Merval index lost 5% in the first hour of the wheel.

The most affected shares were also energy and banks, with Pampa Energía at the head, which fell more than 7%.

It was followed by the Macro, Galicia and Supervielle banks, with falls of 6.7%, 6.1% and 6% respectively.

Argentine assets were already being punished since the previous week, when after a brief celebration for the defeat of the ruling party in the PASO, they reflected in their prices the uncertainty due to the political and economic direction of the Alberto Fernández government.

"The definition of the new cabinet would indicate an intention to close in on the Kirchnerist nucleus

, which could increase the market's concern about a radicalization. Support or questioning about the rate hike implicit in the 2022 budget and the new hydrocarbons law will be key for the energy sector, "warned PPI analysts.

In the fixed income segment, dollar bonds presented reds above 2% and the country risk, which is measured by JP Morgan banks, jumped to 1,559 units

YN

Look also

The Government confirms that it will segment subsidies and there will be an increase in rates

The collapse of the Chinese giant Evergrande already impacts the rest of the world's markets

Source: clarin

All business articles on 2021-09-20

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