|Day's Range||29,040.84 - 29,592.05|
|52 Week Range||24,618.09 - 35,461.52|
It’s one more sign of a lack of investor interest in a stock market that has lost more than half its value in dollar terms this year. The investor exodus from stocks follows a pattern seen in other Argentine assets including the peso, this year’s worst-performing emerging-market currency, and government bonds. A large portion of Argentine stock trading is done through American depositary receipts in New York, and a similar trend has also been seen there, with volume in the MSCI Argentina Index also sinking over the past month.
The iShares MSCI Emerging Markets exchange-traded fund (EEM) is down more than 7 percent for the year as trade tensions between the world's largest economies intesify. Among the biggest decliners in emerging markets were Argentine, Turkish, Brazilian and Chinese shares. “This really resulted from the escalation in trade tensions on multiple fronts,” says one analyst.
Bloomberg News reported that Latin America's third-largest economy could get a $30 billion loan from the IMF, lifting Argentina's currency from a record low. The Financial Times and Reuters also reported that Argentina is seeking a credit line. For the year, the peso is down more than 23 percent against the greenback despite Argentina sporting the highest overnight interest rates in the world.
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