Shares of the S&P Merval decreased by almost 4% on the first trading day following the scandal related to the Libra token, which involved President Javier Milei. In the local market, dollar-denominated bonds also experienced a drop of over 4%.
Among the stocks with the largest losses were BBAR, which fell more than 10%, followed by Grupo Financiero Galicia with a -9% and Edenor with a -8%. Regarding dollar-denominated bonds, Bonar 2035 led the declines with a -4.1% drop, followed by Bonar 2041 which fell nearly 4%, and Global 2038 with a -3.5% decrease.
Despite there being no trading or settlement on Wall Street due to a federal holiday in the United States, the local market operated normally, excluding the settlement of operations in Dollar Cable (CCL). This situation is part of Milei's promotion of a cryptocurrency intended for financing projects in Argentina.
In this context, and after a sharp drop in the valuation that had significantly spiked following Milei's original announcement, the president clarified on social media platform X his lack of detailed knowledge about the project. Milei mentioned: "I was not informed about the details of the project" and expressed his decision to stop promoting it after being informed. As a result, Milei deleted the original post and denied any connection with the initially promoted project.
