Monday, June 16, 2014
After US court ruling, Argentine shares plummet in Buenos Aires and New York
Shares on the Buenos Aires Stock Exchange were in freefall today after the US Supreme Court's adverse ruling in the country’s case against to hedge fund creditors, the so called vulture funds.In Buenos Aires Stock Exchange, the Merval benckmark index was down by 10.1% to 7,235.11 points. Argentine shares also took a big hit on Wall Street.
Earlier today Argentina’s country risk rating dropped; but after the ruling it soared 12.1% to 826 basis points.