Argentina’s YPF Falls 7.1% as Oil Slumps | Argentina Market Report, Nov 4
Argentine shares fell on 4 November: YPF dropped 7.1% and Pampa Energía 5.4% in New York as oil slumped, while the peso held near 1,548 per dollar. The post Argentina’s YPF Falls 7.1% as Oil Slumps | Argentina Market Report, Nov 4 appeared first on The Rio Times .
Argentina's YPF experienced a 7.1% drop in New York on November 4 as oil prices continued to decline. This was attributed to the US Democratic party's control of Congress, which many traders interpreted as a potential end to the Middle East conflict and a subsequent decrease in oil prices. Meanwhile, Pampa Energía saw a 5.4% decline, while Wall Street and most Latin American markets saw positive growth.
Despite the energy sector's decline, the Argentine peso only saw a slight strengthening, indicating investors still trust the country's currency framework.
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