stockmarketcrash Archives - Coin Engineer https://coinengineer.net/blog/tag/stockmarketcrash/ Btc, Coins, Pre-Sale, DeFi, NFT Wed, 19 Feb 2025 11:01:27 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.4 https://coinengineer.net/blog/wp-content/uploads/2024/04/cropped-Coin-Engineer-Logo-Favicon-2-32x32.png stockmarketcrash Archives - Coin Engineer https://coinengineer.net/blog/tag/stockmarketcrash/ 32 32 Argentina Stock Market Crashes After Libra Coin Scandal! https://coinengineer.net/blog/argentina-stock-market-crashes-after-libra-coin-scandal/ https://coinengineer.net/blog/argentina-stock-market-crashes-after-libra-coin-scandal/#respond Mon, 17 Feb 2025 14:32:38 +0000 https://coinengineer.net/blog/?p=36728 The Argentine markets are experiencing one of their biggest turbulences in recent years. President Javier Milei’s involvement in the Libra (LIBRA) token scandal has led to a significant loss of confidence in the financial markets. The uncertainty and investor panic caused the Argentine stock market to drop by more than 6%. How Did the Crypto

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]]> The Argentine markets are experiencing one of their biggest turbulences in recent years. President Javier Milei’s involvement in the Libra (LIBRA) token scandal has led to a significant loss of confidence in the financial markets. The uncertainty and investor panic caused the Argentine stock market to drop by more than 6%.

How Did the Crypto Scandal Affect the Markets?

Known for his interest in cryptocurrencies, Javier Milei recently expressed his support for Libra token. However, shortly after its launch, the token collapsed due to an insider sell-off of $107 million. In total, $4 billion in market capitalization was wiped out, causing massive losses for investors.

libra
1-hour chart of the Argentine Stock Index

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This scandal also dealt a severe blow to Argentina’s financial stability. Local investors, concerned about Milei’s economic policies, started selling off their stock holdings. The banking and industrial sectors suffered sharp losses, leading to a more than 6% drop in the Merval Index.

In the coming days, the statements from Javier Milei and the government’s response will be crucial in determining the market’s direction.

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