Argentine shares fall up to 14% on Wall Street

Shares of Argentine companies on Wall Street plunged by up to 14% on Wednesday, coinciding with a sharp rise in country risk and a general fall in markets globally, amid the coronavirus pandemic. The main losses are registered by Edenor (-14.2%), Banco Francés (-10%) and Grupo Financiero Galicia (-9.6%), although the whole panel registers red. Meanwhile, the only action that advances is Tenaris, 2.5%. It happens because Argentina’s country risk, measured by JP Morgan, rose 5.6% to 3,812 units.

Source: Ámbito