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Argentina's Stock Exchange Posts Worst Losses in Two Years.

Miami Herald (Miami, FL)

| October 30, 2001 | This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Byline: Jane Bussey

Oct. 30--In a day of disheartening announcements and growing fears that Argentina was stepping to the brink of default, investors sold off stock and bonds, signaling that international financiers were in no mood to tango with finance authorities in the South American nation.

Argentina's stock exchange registered its worst losses in two years, with the Merval stock index plunging 8.67 percent to 219.54 points. The gloom spread to neighboring stock markets in Brazil and Chile and even extended to Wall Street, where analysts cited the worsening Argentine situation as one factor that contributed to the Dow closing down.

But by far the worst news …

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