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GGAL - Why Grupo Financiero Galicia Stock Dropped 10% This Morning
Grupo Financiero Galicia S.A.
Shares of Grupo Financiero Galicia (NASDAQ: GGAL), by some measures the largest financial institution in Argentina, got a bit smaller today -- and investors probably have that country's president to thank for it.
Grupo Financiero Galicia stock dropped 10.1% in early trading Tuesday and remain down 9.6% as of 3:33 p.m. EDT after Argentine President Mauricio Macri's administration shocked stock markets with an announcement of "a series of extraordinary measures to ensure the normal functioning of the economy, to sustain the level of activity and employment and protect the consumers."