Argentine stocks dive 16 pct on fund takeover plan

miércoles 22 de octubre de 2008 13:39 ARST

BUENOS AIRES Oct 22 (Reuters) - Argentine stocks fell more than 16 percent in midday trade on Wednesday, extending Tuesday's losses sparked by a government bill to take over private pensions.

The benchmark MerVal .MERV index dipped below the symbolic 1,000-point mark for the first time since September 2004. At 1536 GMT the index traded at 879.86 points, its lowest point since June 2004. (Reporting by Walter Bianchi and Helen Popper; Editing by James Dalgleish)