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We analyse the stability of linear dynamical systems defined on sparse, random graphs with predator-prey, competitive, and mutualistic interactions. These systems are aimed at modelling the stability of fixed points in large systems defined on complex networks, such as, ecosystems consisting of a large number of species that interact through a food-web. We develop an exact theory for the spectral distribution and the leading eigenvalue of the corresponding sparse Jacobian matrices. This theory reveals that the nature of local interactions have a strong influence on system's stability. We show that, in general, linear dynamical systems defined on random graphs with a prescribed degree distribution of unbounded support are unstable if they are large enough, implying a tradeoff between stability and diversity. Remarkably, in contrast to the generic case, antagonistic systems that only contain interactions of the predator-prey type can be stable in the infinite size limit. This qualitatively feature for antagonistic systems is accompanied by a peculiar oscillatory behaviour of the dynamical response of the system after a perturbation, when the mean degree of the graph is small enough. Moreover, for antagonistic systems we also find that there exist a dynamical phase transition and critical mean degree above which the response becomes non-oscillatory.