YPF, Petrobras shares drag Merval down

The Merval benchmark stock index plunged today 3.5 percent to 9,763.88 points dragged by oil shares worldwide following OPEC's decisoin not to cut output reinforced prospects of an oil supply glut around the world.

Argentine YPF and Brazilian Petrobras stocks fell 4.7 percent and 5.9 percent respectively. Tenaris lost 5.9 percent.

Traders said volume was thin today in financial markets due to the US Thanksgiving holiday