Argentina markets crash as Macri`s re-election chances drop
(WorldNews Argentina)

Argentine stocks and the peso plummeted 30% on Monday as fears of a possible return to interventionist policies gripped after conservationist President Mauricio Macri lost by a much wider-than-expected margin to opposition in presidential primaries. The peso recovered some to trade at 52.15 per dollar, after having fallen to an all-time low of 61.99, as the central bank used $50 million in its own reserves to defend the peso. The country’s main stocks index posted its worst day ever with all its components well in the red, while the cost of insuring exposure to Argentina’s sovereign debt surged almost 1,000 basis points....