Argentina's Debt Default Drives Stocks Lower; Dow Falls 316 Points
Stocks end the day much lower with the Dow falling over 300 points, in part due to the debt crisis in Argentina. This is Argentina's second default in 13 years and many U.S. investors are wondering what this means for global markets. RadioShack's (RSH) days are numbered as it has only $62 million in cash left and doesn't even have enough money to close the 1,100 locations that management says it needs to close. RadioShack's shares fell to a record low of just 62 cents today. T-Mobile's (TMUS) shares jumped up 4% after French telecom company, Iliad, confirmed that they had made an offer to acquire T-Mobile.
Word on the Street
- U.S. jobless claims rose last week.
- What you need to know about the Argentine debt crisis.
- RadioShack's (RSH) shares hit record low of 62 cents.
- Iliad looks to merge with T-Mobile (TMUS).
- Apple (AAPL) is winning the war against Samsung.
- Stocks crashing hard to end July.
- Bank of America (BAC) increases settlement offer, gets slapped with $1.27B fine.
Published on Jul 31, 2014By InvestorGuide Staff