Brazilian equity and currency markets plummeted on Thursday as fresh accusations against President Michel Temer dampened the outlook for his structural reform plans. Temer was caught on tape encouraging a prominent executive to pay a monthly fee to keep jailed former House Speaker Eduardo Cunha silent in the country's biggest-ever graft probe, sources said on Wednesday, confirming a report in newspaper O Globo. Temer denied reports that he had authorized such payments.
Argentina's main Merval stock index fell 4.2 percent on Thursday, pressured lowered by steep share losses in neighboring Brazil, local market sources said.
Investors are about to get a fresh way to play Argentina.