Stocks Nosedive On Argentina Default, Portugal's Banks, Worries About Tightening Fed Policy

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A jumble of negative geo-political and economic events is fueling a sell-off in the U.S. equity markets, wiping out all of July's gains for the Dow Jones Industrial Average and the S&P 500 and pushing both below their 50-day moving averages. Among the factor driving stocks lower today was Argentina's bond default last night, harsh rhetoric from Ukraine towards Russia and renewed worries about Portugal's banking system along with recent employment reports rekindling worries the Federal Reserve will increase U.S. interest rates sooner than expected.



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This article appears in: Investing , Commodities

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