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Around 10.45 a.m. BST (5.45 a.m. ET) on Thursday Brent reached a daily high of $80.12 per barrel, marking the first time since November 2014 it has passed above that mark.
‘Everything’ in Argentina is 20% to 30% overvalued and a crisis is on the way, according to an economist
A financial crisis has been building in Argentina for years, but was hidden by an inflationary bubble which politicians refused to look at because they wanted to "avoid the pain," said Daniel Lacalle, chief economist at Tressis SV and a fund manager at Adriza International Opportunities.
Here's what you need to know on Friday.
Key risks include a record pile of leveraged corporate lending, external debt issues for emerging markets, and European banks' reliance on volatile sources of short-term dollar funding.
Stocks slid on Wednesday, after the Fed left interest rates unchanged despite climbing inflation and some corporate earnings missed analyst expectations.