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yesterday

Argentine ADRs Slide in U.S. Premarket After Milei’s Electoral Setback

The selloff reflects investor doubt about Milei’s reform momentum under a fragile market backdrop.

A trader works on the floor at the New York Stock Exchange (NYSE) in New York, US, on Monday, Aug. 18, 2025. Wall Street saw a quiet start to a key Federal Reserve week, with geopolitics coming into play as Ukrainian President Volodymyr Zelenskiy and his European allies get ready to meet with Donald Trump to a potential peace deal with Russia. Photographer: Michael Nagle/Bloomberg
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Este miércoles, el riesgo país concluyó en los 2.973 puntos básicos. (Archivo)

Overview

  • In New York premarket trading, Grupo Financiero Galicia fell roughly 16%, YPF about 11% and Vista 5.9%, with BBVA Argentina and Grupo Supervielle down 13% and Edenor off 8.7%.
  • Sovereign bonds also weakened, with the Global 2035 down as much as 5.8% and the GD46 off 4.4%, according to El Cronista.
  • The declines followed Milei’s loss to the Peronist coalition in Buenos Aires elections, which analysts said signaled weaker political support for his agenda.
  • Milei reaffirmed that his economic program will continue and Economy Minister Luis Caputo posted messages of continuity, yet investors continued to sell.
  • Traders marked up the crypto dollar toward the exchange-band ceiling to about 1,468 pesos per U.S. dollar ahead of the Wall Street open.