YPF's stocks plunge in Buenos Aires, transactions halted in New York

Shares of Argentina’s biggest energy company Repsol-YPF plunged by 7.5 percent in Buenos Aires. In Spain, shares sank by 6.1 in trade at the Madrid Stock Exchange. Stocks transactions were halted yesterday and remained suspended for today in Wall Street.

Stocks plunged yesterday after president Cristina Fernández de Kirchner announced the government was sending to the Congress a draft bill allowing the administration to expropriate 51 percent of the 57.43 share-package Repsol owns.