On another black day for global stock markets, shares of Mercado Libre fell more than 6% on Wall Street

Even on a holiday for the 2022 National Census, Argentina’s financial assets are beating. Tied to the mood of global stock markets, shares of local companies listed on Wall Street Most of them have waterfalls. where Mercado Libre leads. the signature losing nearly 7%.

Meanwhile, dollar bonds seem to have not found their floor and are falling again, putting the country at risk, as measured by JP Morgan bank climbed another notch to 1,931 units.

The other day, public bonds that entered the latest debt restructuring conducted by Minister Martín Guzmán have already closed in Homecoming.

Stocks fell on Wall Street on Wednesday as traders weighed in on growth prospects and currency restrictions following the latest Federal Reserve comments. The dollar was cut by three days of consecutive losses.

All 11 major industry groups in the S&P 500 are in the red, with consumer stocks leading the decline. The Nasdaq 100 fell as much as 2.2% after a bounce on Tuesday.

The target fell by more than 20% after cutting its earnings forecast. Shares of retailers from Walmart to Macy’s also fell, the Bloomberg news agency reported.

For their part, Treasuries were mixed, with the 10-year yield lower after Tuesday’s sale.

In one of his most aggressive comments to date, Fed Chairman Jerome Powell said Tuesday that the U.S. central bank raise interest rates until there is “clear and convincing” evidence that inflation is declining.

How about Argentine stocks

This “risk aversion” also has an impact on Argentina’s role, especially those in the technology segment. The most affected actions were Globant and Mercado Libre, which accumulated annual red of 43% and 42% respectively.

Globant fell 3.1% on Wednesday and Despegar, 4.1%. Other Argentine companies are also showing recessions, especially banks.

It is these roles that are in the hands of hedge funds that quickly switch to “quality assets” when market volatility begins.

According to data from Bloomberg, for example, the role of the company founded by Marcos Galperin is very popular within hedge funds (hedge funds) in excess of 13 of these global players they have more than 5% of their funds allocated to the actions of the e-commerce giant.

There are even players where the concentration is higher. For example, Kids Capital Management LP, which has one of the largest concentrations of MELI roles: the Argentine company represents 21% of all its holdings in sharesan investment of US $ 10.7 million.

NE