The Argentine Stock Market crashed by over 48% triggered by a massive sell-off that happened due to political turmoils in the country. Even though it’s both shocking and frightening, here are some amazing facts about the Argentinian tragedy:
- It is the 2nd largest stock market intra day crash in 70 years, after the Sri Lankan stock market crash in 1989.
- According to theory of Normal Distribution, the probability of Argentine stock market crash was once in 145,300,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000 years. This is more time than the origin of the universe itself. Yet, it happened.
- In 2009, Argentinian Peso was valued $3.45 against 1 US dollar. Today, it is $55.50. Approximately, that’s a 1500% fall, which is a lot when the asset we are looking at is a FIAT currency.
- And just for your information, USD has fallen more than 1 million% with respect to BTC in the same time duration.
