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Investors embraced signs of a political compromise that could avert a default on government debt, sending stocks surging on Thursday.
Without the aid, Greece would not be able to meet its expenses and would default on its debt, sending shock waves through the euro zone and the world economy.
Prolonged rock-bottom oil prices raise the prospect that some of these oil and gas companies will default on their debts, sending shockwaves through lenders such as banks and bond investors.
Fitch hit Venezuela with a restricted default rating on Tuesday, sending the market into a mild panic.
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Now the renewed fear that Argentina will default on its debts is sending a shudder of fear through financial markets across South America and beyond.
After Russia defaulted on its debts, sending convulsions through financial markets from London to Sao Paulo, the growing crisis convinced Mr. Soros that his conclusions were too timely to hold back.
But Mr. Greenspan dwelled at length on the risks to the economy from the latest round of turmoil in the global markets, set off in August when Russia effectively defaulted on its debt, sending investors fleeing not just from other emerging markets, but also from high-yield junk bonds and other investments that suddenly seemed risky.
A default would send a shock through the financial markets.
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But now they say they will let the US default on its debt and send economic shockwaves throughout the world if they don t win something, anything, from the President.
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CEO of Professional Science Editing for Scientists @ prosciediting.com