Argentine stocks, bonds and country risk under pressure after Lula's win in Brazil
Luiz Inácio Lula da Silva's reelection in Brazil was read as a "bad signal" by investors and Argentine assets would feel the impact, according to analysts cited by Clarín. The EWZ, the main ETF tracking Brazilian stocks, fell more than 20% in the final minutes of the vote count, and Argentine ADRs such as Banco Galicia's were down more than 9% before Monday's open. Argentina's country risk had closed Friday at 707 points and the City expects it to heat up due to a "contagion effect."
In 40 seconds
- The EWZ, the main Brazilian equity ETF, fell more than 20% in the final minutes of the vote count
- Argentine ADRs such as Banco Galicia's were down more than 9% before Monday's open
- Argentina's country risk had closed Friday at 707 points and is expected to rise due to a "contagion effect"
IASummary generated by artificial intelligence from a story by Clarin.com. It may contain errors: the original source prevails.




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