Business

Default fuels uncertainty, stock drop in Argentina

By Almudena Calatrava
Published August 1, 2014 3:00am ET
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Default fuels uncertainty, stock drop in Argentina
An office worker looks at a man sleeping inside the basket he uses to collect cardboard for recycling at the financial district in Buenos Aires, Argentina, Thursday, July 31, 2014. The collapse of talks with U.S. creditors sent Argentina into its second debt default in 13 years and raised questions about what comes next for financial markets and the South American nation's staggering economy. (AP Photo/Rodrigo Abd) | Rodrigo Abd

BUENOS AIRES, Argentina (AP) — Argentina entered economic limbo Thursday, forced into a default that could undermine an already frail economy if a dispute with U.S. creditors is not resolved soon.

President Cristina Fernandez and her economy minister both insisted they were open to more discussions with holdout creditors, but also maintained an air of defiance and denied that the situation Argentina finds itself in really amounts to a default.

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Argentina South America