Investors worry provincial election defeat will undermine president’s reform agenda

Pressure grows on libertarian president over reform agenda and corruption scandal ahead of October midterms

President touted contest in Buenos Aires province – 40% of electorate – as ‘life or death battle’ but won only 34% of vote

Benchmark index fell 10 percent after resounding victory for Peronists signalled a tough battle for Milei in midterms.

Investors worry provincial election defeat will undermine president’s reform agenda

Financial markets dealt Argentina a harsh blow after President Javier Milei's coalition suffered a major defeat in midterm elections in Buenos Aires province.