|Day's range||30,172.86 - 30,941.26|
|52-week range||20,845.22 - 35,461.52|
It was a blue Monday for Argentina’s stocks, which suffered their biggest one-day percentage drop since 2014. The Buenos Aries Stock Exchange’s Merval Index shed 2,491 points to end the day down 8.26 per cent, its largest one-day drop since 2014, according to Thomson Reuters data. The fall comes after Argentina’s central bank announced earlier that it was raising bank reserve requirements by 5 percentage points in a move designed to absorb about 100bn pesos from the financial system, according to Reuters.
President Donald Trump just lit a fire under oil prices and big energy stocks. It should also be good news for economies overseas that are heavily tied to the oil price. The Dow Jones Industrial Average has risen 137.74 points, or 0.6%, to 24,497.95, while the S&P 500 has gained 0.7%, to 2691.13 and the Nasdaq Composite is up 0.6% at 7309.57.. Elsewhere, the humorous moment of the day comes courtesy of Argentina, whose Merval stock-market index suddenly boomed 6% on hopes that the international community, in the form of the International Monetary Fund, will bail the country out of its latest financial crisis.
No one loves Argentina right now, but a 58% profit could change investors' minds.
The Argentine peso fell 4.61 percent in opening trade Tuesday, signaling a return to the volatility that prompted the country's central bank to intervene last week to support the currency. The peso declined to 23.41 to the dollar and the Buenos Aires Stock Exchange's Merval index followed suit, dropping 4.68 percent less than two hours after it opened. Argentina's Central Bank on Friday raised its key interest rate to 40 percent to support the peso after it plunged 7.64 percent the day before.
Global markets started the New Year on a strong note, notching up record gains.