Argentinian ADRs extended their losses on Wall Street, falling more than 3%.

Meanwhile, Argentina’s country risk rose again this holiday Friday, surpassing 1,400 units and settling at 1,420 points.

Bonds also had a weak session, extending the losses from the previous day, with their dollar-denominated prices falling more than 0.5% among the main references with foreign legislation. This occurred despite increasing investor analyses of potential “upside” scenarios, should economic normalization lead to convergence towards emerging market yields.

This rise placed the country risk at 1,420 points.

Thus, the week ended with disjointed trading due to multiple holidays in both the United States and Argentina. This indicates that traders appear to be adopting a more cautious stance.

On Wall Street, the New York Stock Exchange struggled to find its direction on Friday, with stocks showing mixed behavior. Nvidia continued its decline after recently reaching an all-time high. In this context, the Dow Jones Industrial Average ended at 39,150.33 points, rising 0.04%, the S&P 500 settled at 5,464.62 points, losing 0.16%, and the Nasdaq Composite fell 0.18%, closing at 17,689.36 points.

NVIDIA Corporation’s shares dropped more than 4%, extending the previous day’s losses, as investors decided to take profits following the chipmaker’s rapid rise, which for a brief period had surpassed Microsoft as the most valuable company in the market.

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ABOUT THE AUTHOR See More
Ignacio Teson
Ignacio Teson
Economist and Financial Analyst
Ignacio Teson is an Economist and Financial Analyst. He has more than 7 years of experience in emerging markets. He worked as an analyst and market operator at brokerage firms in Argentina and Spain.
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