(Reuters) -A heavy election defeat for Argentine President Javier Milei's ruling party in Buenos Aires province put the country's strained markets on track to extend a recent selloff, raising uncertainty ahead of a key October vote.

Argentina's markets tumbled on Monday after a heavy defeat for President Javier Milei's party at the hands of the Peronist opposition at local elections stoked worries about the government's ability to implement its economic reform agenda.

The party of Argentina’s libertarian President Javier Milei has suffered a sweeping setback in the Buenos Aires provincial election that is viewed as a barometer of the party's performance in congressional midterms next month.

The Buenos Aires provincial election is a test of Milei’s popularity ahead of upcoming congressional polls next month.

BUENOS AIRES (Reuters) -A resounding electoral defeat for Argentine President Javier Milei in the country's most populous province could force him to build political alliances, casting doubts on the government's ability to carry out its program of fiscal austerity.

Argentinian President Javier Milei acknowledged a “setback” on Sunday after his libertarian party suffered a bruising loss in elections in the Buenos Aires province.

Decisive loss, fueled by public discontent and corruption scandal, destabilizes financial markets - Anadolu Ajansı

BUENOS AIRES (Reuters) - Argentina's opposition Peronist party triumphed on Sunday in legislative elections in the key province of Buenos Aires, leaving President Javier Milei's ruling party in a distant second place, the provisional official tally showed.

Javier Milei's recently formed La Libertad Avanza party captured just 34% of the vote in Argentina's biggest province in what the leader conceded was a "clear defeat."View on euronews

The party of Argentina’s libertarian President Javier Milei suffered a sweeping setback Sunday in Buenos Aires provincial elections that are viewed as a barometer for how the party will perform in congressional midterms and a key test for the embattled president.

Millions of voters across Argentina’s most populous province of Buenos Aires were heading to the polls to choose lawmakers in an unusually high-stakes local election seen as a referendum on the perfor