Argentina Markets: Merval & the Peso -- September 17, 2026

Argentina’s S&P Merval fell 1.70% to close at 3,028,871 points on Wednesday, 16 September, as energy stocks led the decline. The wholesale dollar strengthened about 0.5% to 1,513.50 pesos and the country risk inched up to 510 points. YPF dropped 5.2% in New York to $54.60, with analysts cited by Infobae attributing the move to a Federal Reserve decision rather than domestic factors. Investors are watching Thursday’s release of second-quarter GDP and unemployment, the first major data since the budget debate began. Despite the pullback, the index remains up roughly 71% year-on-year, supported by foreign interest in the “Milei reform trade.”