Stocks Tumbled on Crisis, Dollar Rally to Take a Breath The financial markets were dominated by two themes, risk aversion and dollar strength, last week. Global equities tumbled sharply on news of Argentina's default as its failure to pay bond interests was considered a credit event by the International Swaps & Derivatives Association. And that triggered settlement of USD 1b in default insurance. That's the first soverign bond default since Greece in 2012. Meanwhile, Banking crisis in Portugal is getting more pronounced with the Bank of Portugal ordering Banco Espirito Santo to raise more capital, after it declared a EUR 3.6b loss and the shares were suspended after plummeting 50%. Considering that the markets were still facing geopolitical risks in Middle East and Ukraine, investors dumped equities which triggered a broad based selloff. Full Report Here... | 
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