Markets tank on Argentina debt default, other fears
Friday, August 1, 2014 | Tag Cloud Tags: US Economy | Learn about our FREE SYNDICATION Service | Sign up for our Worthy Briefs! | Printer Friendly
NEW YORK (Worthy News)– Financial markets went into a tailspin Thursday after Argentina defaulted on its debt, raising fears among skittish investors already fretting about weak corporate earnings growth, rising interest rates and an aging bull market, the USA Today reported.
Argentina’s blue chip Merval Index was among the biggest losers, sinking 8.4% — the equivalent of a 1,400-point drop in the Dow Jones Industrial Average.
The Dow sank 317.06 points to 16,563.30, erasing 2014’s gains. The 1.9% drop was the blue chip barometer’s third-biggest daily drop of the year and the worst since a 267-point loss on April 10. Selling intensified as selling momentum picked up in afternoon trading. — Source
Latest Worthy News
Fair Use Notice:This site contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available in our efforts to advance understanding of environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission from the copyright owner.
Tag Cloud Tags: US Economy