Argentina Stocks Fall After Banking Selloff

Argentina’s S&P Merval tumbled 1.6% to 2,754,419 on February 26, touching a three-month low as banking stocks, led by Banco Macro’s 6.1% domestic drop (7.3% ADR), plunged amid a Nasdaq-led tech selloff. Country risk rose 15 basis points to 554 bps while the mayorista dollar reclaimed ARS 1,408 and reserves fell USD 749 million to USD 46,156 million. The Tesoro placed USD 100M and USD 150M in new Bonar 2027 bonds.