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The Merval slipped 1.86% to 3,164,196 on Wednesday June 3. The market opened near its high for the day and eased back from there, taking a small step down after a strong recent climb that had carried it close to its record high.
A dip like this is normal after a fast run. When a market climbs quickly, it often pauses to catch its breath, and that is what Wednesday looked like. The bigger picture is still clearly positive: the Merval sits well above where it traded most of the year and remains within reach of the all-time high it set back in January.
Behind the rally is the steady story investors have been buying into: President Milei’s economic overhaul, support from the International Monetary Fund, and a currency that has been far calmer than Argentina is used to. None of that changed on Wednesday. The pullback reads as a rest stop on a strong run, not a turn for the worse.
