Financial markets reacted with euphoria to the victory of President Javier Milei in the legislative elections on Sunday, causing a nearly 400-point drop in Argentina's Country Risk and a record wave of asset purchases. Following Milei's victory, Falabella resumed sales in Argentina, offering two appliances for 49,990 pesos. According to Noticias Argentinas, the JP Morgan index closed at 708 points, its lowest level since August, falling 373 points in what analysts described as a "historic" day. Market confidence translated into a sharp rise in Argentine assets: Government bonds: They rose by up to 24%. ADRs (Argentine stocks on Wall Street): They advanced by up to 48%, with notable increases for Supervielle bank and YPF oil company. Buenos Aires Stock Exchange: The S&P Merval index rose 21.8% in pesos, reaching its highest level in nine months. Dollar: The US currency fell by 3.6%, closing at 1,460 pesos. This euphoria is driven by expectations of structural reforms and greater political stability in the second half of Milei's presidential term.
