Overview

• With more than 90% of votes counted, Fuerza Patria led roughly 47% to 33–34% over La Libertad Avanza in the Province of Buenos Aires, a margin wider than most polls predicted.
• Argentine assets slumped after the vote, with the Buenos Aires exchange down 13%, some U.S.-listed Argentine stocks off as much as 15%, and the peso weakening 3.2% to about 1,425 per dollar.
• Javier Milei acknowledged a clear political defeat but said his government will deepen and accelerate its ultraliberal reform agenda rather than change course.
• Chief of cabinet Guillermo Francos called for an internal self-assessment, and the presidency announced a new dialogue table with provincial governors.
• The setback comes after Congress annulled a presidential veto for the first time in Milei’s term and as a probe tied to Karina Milei develops, intensifying pressure ahead of the Oct. 26 midterms.