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Argentine stocks fell Friday after MSCI Inc cut the country from emerging market status to 'standalone' over ongoing capital controls. The downgrade came three years after MSCI had upgraded Argentina from frontier to emerging market status.
American depositary shares of YPF SA led declines, falling as much as 12%.
The index reclassification may trigger passive fund outflows and weigh on Argentine asset values, which affects confidence in the peso and the country's import capacity for feed-grade commodities. Impact on grain and oilseed prices is limited.
bloomberg.comVinicius Andrade, Jorgelina Do RosarioJun 24, 2021Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
