Argentine stocks fall up to 9% on Wall Street; country risk hits 755 points

Argentine stocks trading on Wall Street fell up to 9% and the country risk index rose to 755 basis points, following the reelection of Lula da Silva in Brazil. Sovereign bonds also traded lower, with losses exceeding 1%. Among the hardest-hit companies were Mercado Libre (down 8.8%), Banco Supervielle (down 8.1%), and BBVA (down 7.8%). The official dollar rose 10 pesos to 1,560 at Banco Nación, while financial exchange rates closed with the contado con liquidación at 1,675 and the MEP dollar at 1,568. In Brazil, trading was suspended for half an hour before the opening as the Ibovespa index plunged up to 17%, and the real depreciated nearly 12% against the dollar. The iShares MSCI Brazil ETF fell 27% in early transactions, while Tokyo's Nomura NF Ibovespa Link lost 15%.