- "Things are rapidly coming unglued" in Argentina (ARGT), and worries are growing about the potential for the country’s woes to spill outside its borders.
- Worries about Argentina’s thinning foreign exchange reserves helped spark a 15%-plus drop in the Argentine peso today, as traders say the central bank stopped defending the currency - a sign it may be hitting the bottom of its foreign currency reserves.
- Argentina's trade surplus fell 67% Y/Y to $272 million in December amid a plunge in exports.
- The turbulence has spilled over into stocks, as U.S.-listed shares of energy giant YPF tumbled 12% today, adding to an 8.9% decline yesterday.
Argentina's problems go from bad to worse
Jan 23 2014, 18:05 ET