BUENOS AIRES - A surprise result in Argentina's primary election sent the country's currency and stocks plunging Monday, with investors fearing that populists could replace the country's current, business-friendly government.
Two exchange-traded funds that track Argentina's stocks fell more than 20%.
Fernandez's running mate is his left-wing Cristina Fernandez de Kirchner, who was Argentina's president before Macri.
The primary vote essentially functions as a national poll ahead of the election.
Benjamin Gedan, director of the Argentina Project at the Wilson Center called the short term reaction from the markets "absolutely brutal."