The stunning preliminary election results in Argentina have rattled South America's markets. The opposition party to Argentina's current pro-business president won a resounding victory in primaries Sunday, setting the stage for a likely return to socialism in Argentina next year. The final election isn't until October, but it will be difficult for the incumbent to make up so much ground in just a couple of months.
Argentine stocks, and the Peso, got absolutely whacked, with 20 to 50% losses across the board in just one trading session. Here's a sampling:
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