The Argentine stock markets crashed after the Conservative Argentine President Mauricio Macri suffered a shock defeat in primary elections on Sunday.

Argentina's main Merval stock index fell 32%, while the peso slumped 25% against the dollar. Markets were taken by surprise as polls were predicting a tight race; instead, Macri found himself lugging 16 points behind the opposition.

Most analysts now agree that the left-wing candidate Alberto Fernández is now likely to win the presidential el...


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