Argentine financial markets crashes

Deep in Argentina's popular beachside resort town of Mar del Plata, shopowner Fabian Cedron has been worried about his future. His stress levels spiked on Monday, when Argentina's financial markets crashed in spectacular fashion and sent waves of fear across financial markets.

"I had to raise my prices 20 percent on Monday. Everything got more expensive. It's crazy," Cedron said. "You probably can't even understand what it means for prices to go up 20 percent in a day."

Cedron runs a sporting goods store where most of his wares are imported, which means they are purchased in dollars but sold in Argentine pesos, a currency that lost a quarter of its value in a few hours on Monday and today is worth half of what it was a year ago.