It started well for Lionel Scaloni's team, also reigning Copa America champions, as they grabbed an early lead through Inter Milan striker Lautaro Martinez.
Enzo Fernandez lofted a lovely ball over the Paraguay defence into the path of Martinez who drove in a low finish only for his celebration to be cut short by the linesman's flag.
But a VAR review found that Martinez had been just onside and over-ruled the on-field decision giving Argentina an 11th-minute lead.
It was an advantage that was to last just eight minutes though as the home side drew level in spectacular fashion.
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