|Day's range||29,426.49 - 30,086.65|
|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.
Emerging-market currencies rounded off a winning month, defying the prospect of further rate hikes by the Federal Reserve, as more developing-nation central banks deployed tighter monetary policies to backstop local markets. Trade tension between China and the U.S. escalated as some $200 billion of Chinese products became subject to U.S. tariffs on Sept. 24, on top of $50 billion of existing levies.
Emerging-market stocks, currencies and bonds were unfazed by an escalation in the U.S.-China trade dispute, rising for a second week as the dollar retreated. The Chinese yuan had its first weekly gain this month as Premier Li Keqiang said the country won’t devalue its currency in order to make its exports more competitive amid trade tension with the U.S.
U.S. stocks rose to a new record on Thursday, prompting President Donald Trump to mark the occasion with a tweet that, in part, said "Congratulations USA!" That's all well and good, but what investors really care about is relative performance, as in how one asset, security or market is performing or valued relative to others. In that sense, U.S. stocks are suddenly falling short. Although the S&P 500 Index has gained about 1.50 percent since Sept. 11, the MSCI All-Country World Index of equities excluding those from the U.S. has jumped 3.71 percent.
The selloff pummeling emerging market currencies shifted to stocks as contagion concerns weighed on risk assets and President Donald Trump threatened to impose tariffs on an additional $267 billion of Chinese goods.
Argentina has a new refrain: 30 — it’s a magic number. Just after President Mauricio Macri completed 30 months in office, inflation looks set to jump to a staggering 30 percent by the end of the year. It’s all an unfortunate confluence for Macri, who swept to office in 2015 vowing to jump-start the economy by enticing foreign investment and slashing inflation.
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