Argentina’s political and financial turbulence deepened after Javier Milei’s party suffered a heavy defeat to the Peronist opposition in key local elections. The peso tumbled to a historic low, sliding nearly 5 percent against the US dollar, while stocks and international bonds plunged sharply, sparking concerns over Argentina’s economic stability. Milei’s reform agenda, once hailed as a potential turning point, now faces major obstacles as midterm elections loom on 26 October. Markets fear the government may burn through reserves to defend the peso, undermining its IMF-backed programme and raising the risk of default. The Peronists’ wider-than-expected 13-point victory in Buenos Aires province highlighted Milei’s growing political challenges.  These are compounded by corruption allegations involving his sister. Investor confidence, already shaken, has deteriorated further, with bonds and equities suffering their steepest losses since Argentina’s 2020 restructuring.

On 10 September, at Utah Valley University, conservative activist Charlie Kirk was shot dead while speaking at a Turning Point USA event. He was speaking to a crowd as part of his ‘American Comeback Tour’ when a single shot struck him in the neck, with eyewitnesses saying the bullet came from a rooftop position. A manhunt is ongoing; authorities have recovered a high-powered rifle from nearby woods, released images of a ‘person of interest’, and offered a reward for tips. Remarks from public officials, including Utah’s governor, have characterised the incident as a political assassination. President Trump said that rhetoric from the ‘radical left’ had contributed to the shooting. He promised to find those responsible for political violence, as well as the ‘organisations that fund it and support it’. He has ordered flags to be hung at half-mast in his memory. The authorities are doing everything they can to find the shooter, but so far without success.