The Argentina MERVAL stock index is down 16.5% since yesterday's news of the resignation of the last voice of reason among Argentina's policy-makers. As we noted previously, "this is not a good sign" and indicates a worrying escalation in the chances of hyperinflation..
This is the MERVAL's worst 2-day drop in 6 years.
"Fabrega was perceived to be a moderating voice and someone that really understood financial market dynamics."
What some money-printing gives, too much money-printing takes away...