Argentina’s Merval falls 2.6%, country risk rises to 787 — The Rio Times
In Argentina, on October 30, 2026, the S&P Merval index fell by 2.59% to 92,079 points, recording its fifth consecutive decline. The country-risk indicator rose by more than 40 basis points to 787, its highest closing level since the beginning of 2026. The Rio Times reports.
Pressure on stocks and bonds
Country risk reflects the additional yield investors demand for holding Argentine dollar-denominated bonds compared with US Treasury securities. It increased by 41–46 points during the day and by approximately 170–180 points over October.
At the same time, the official dollar exchange rate fell by 0.29% to 1,534 Argentine pesos. Thus, the sell-off primarily affected stocks and bonds rather than the official exchange rate.
The biggest losses were recorded by shares of gas pipeline operator TGS, down 5.5%; exchange operator BYMA, down 5.2%; and power distribution company Edenor, down 4.4%. Shares of Argentina’s largest private bank, Galicia, in New York fell by 4.24% to $32.30. The Global X MSCI Argentina ETF declined by 2.82% to $79.18.
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External and domestic factors
The publication links the decline to a sell-off in risky assets on global markets: the S&P 500 lost 1.82% that day, while the Nasdaq fell 2.86% amid concerns over artificial intelligence technology spending. The Rio Times also cites the weakening of the Brazilian real following President Lula’s re-election on October 25 as an additional factor.
Investors are also assessing the Argentine government’s ability to finance its needs and build reserves in 2027 amid weak economic activity. A decree published on October 30 postponed tax increases on fuel and carbon dioxide emissions from November 1 to December 1. According to the publication, this temporarily restrains prices at gas stations but delays budget revenues.
Elsewhere in Latin America, Chilean and Brazilian indices also declined that day: the IPSA lost 2.76%, while the Ibovespa fell 0.75%. Argentina’s October tax revenue data were due to be published on November 2.
