A chaotic day for the Argentine economy already has an impact on global markets

Investors still evaluate the extent of the collapse of Argentine markets, after the defeat at the president's primaries Mauricio Macri.

The response of the financial system has been brutal. The peso has collapsed by 15%, the Merval index, by 48% (in dollars), during the second largest stock market drop since 1950, and bonds at age 100 collapsed to 20%.

"Argentina is a small economy.However, the last thing the world markets want is to see another friend of the government, dropped markets, give way to a populist administration."he said Michael Every, Economist Rabobank, at the Reuters Agency.

He added that the "series of concerns" investors already includes world trade, Brexit, China, Iran, Italy, Kashmir, North Korea, the South China Sea and Venezuela. "Do we need more?"

On the debt market, US Treasury yields hit their lowest level in three years. Other housing-related badets stood out, such as the yen, which was close to the seven-month limit against the dollar.

ING badysts said the yen was taking advantage of the "best of both worlds", given widespread risk aversion and expectations of further interest rate cuts from investors. the US Federal Reserve.

In Hong Kong, the leader Carrie Lam – who defies calls for resignation – said that there was now a "state of panic and chaos" in the city. Speaking, the Hang Seng index fell to a minimum of seven months. Later, it closed with a decline of 2.1%, resulting in a deterioration of Asian markets.

The broad MSCI Asia-Pacific Index declined 1.2%, while both the Chinese and Tokyo Nikkei shares lost about 1%.

The demand for safety has generated a further 0.5% rise in gold, reaching $ 1,523 dollars the ounce, its highest level in six years. At the same time, crude oil prices held up well to expectations that major producers would continue to reduce supplies in order to control their inventories and cope with a possible decline in demand.