Analysts said German chemicals group BASF AG could lose tens of millions of euros in net profit this year as its oil and gas division suffers from devaluation and high tax in Argentina.
Spain's two biggest banks, Santander Central Hispano and Banco Bilbao Vizcaya Argentaria may be forced to pull out of Argentina altogether, analysts say.
Duhalde is the fifth president since December, when Fernando de la Rua was forced from power by looting and protests. Duhalde hails from the populist wing of the Peronist Party, which ran Argentina from 1989-1999.
The government decreed on Thursday that checking accounts above US$10,000 and savings accounts above US$3,000 will be turned into fixed-term deposits -- which means they will be untouchable for at least a year.
Latin American financial markets were mostly firmer on Friday despite wariness of Argentina.
Equities in Brazil, Mexico and Chilea firmed.
Brazil's currency, the real, also strengthened, but the Chilean peso was weaker on nervousness about Argentina's new dual exchange rate system.
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