"Since Tuesday the Argentine stock market, the Merval, has been sinking. On Wednesday it fell 7%. In the last five trading days the index is down around 13%."
"Investors are losing faith that the current administration will settle with holdout bondholders — "vultures" as President Fernandez calls them — in 2015. That's when a clause in their bond contract that the Argentine government says prohibits them from negotiating with the holdouts, the RUFO (Rights Upon Future Offers) clause, expires..."