2018.06.2519:12:00UTC+00ARGENTINA: Merval Drops 4.47% Amid Trade War, 24-hour National Strike

Merval, the index of the Buenos Aires Stock Exchange, fell 4.47% to 28,859.85 points Monday, driven by the fall in the reference markets, mainly in Wall Street. In addition, the day was marked by a 24-hour national strike that interrupted almost all of Argentina's economic activities.

"The main stock market indexes of Wall Street closed with average losses of 1.50% due to the resurgence of the trade war between the United States and China, and the Trump administration imposed high impact measures, such as the limitation of Chinese companies to invest in U.S. Tech companies," said Eduardo Fernandez, an analyst at Rava Bursatil.

The worst losses of today's session were recorded by Supervielle (-12.78%), Banco Francis (-7.60%) and YPF (-7.51%).

Meanwhile, the locally traded U.S. dollar closed up 0.22%, at 27.07 Argentinean pesos, amid a 24-hour national strike called by the General Confederation of Labor (CGT).

The strike counted on the adhesion of almost all the unions and social movements, halting the main economic activities of the country.