Argentinian Treasury minister N. Dijovne greets C. Lagarde from the IMF. Stephen Jaffe/IMF Getty Images

Argentina's currency sunk to new lows today, sparking fears of a crisis that could expand throughout the region. The peso has lost 18% of its value against the U.S. dollar in the last 12 days despite an aggressive rate hike, and the announcement of a loan from the IMF, per the FT.

Why it matters: President Mauricio Macri has been trying to push more pro-market policies after a decade of populist governments in Argentina. His reforms have not produced the desired economic boost in a country with high inflation and anemic growth. The rise in the dollar's value and the lack of confidence in Macri's policies have turned into a storm that could affect other regional markets.

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U.S. daily coronavirus cases top 50,000 for first time

A medical technologist processes test samples for the coronavirus at a lab in Tampa, Florida, on June 25. Photo: Octavio Jones/Getty Images

A record 50,655 tested positive for the novel coronavirus in the United States on Wednesday, Johns Hopkins data shows.

By the numbers: Per Johns Hopkins, almost 2.7 million people had tested positive for COVID-19 from more than 32.8 million tests in the U.S. as of Thursday morning. Over 128,000 Americans have died from the virus.

Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of midnight ET: 10,667,217 — Total deaths: 515,646 — Total recoveries — 5,464,367Map.
  2. U.S.: Total confirmed cases as of midnight ET: 2,685,806 — Total deaths: 128,061 — Total recoveries: 729,994 — Total tested: 32,827,359Map.
  3. Federal government: Trump says he still thinks coronavirus will "just disappear" at some point, supports another round of direct payments to Americans.
  4. Public health: Thanks to coronavirus, your home is now your gymFormer FDA chief says 500,000 Americans may be contracting coronavirus a day.
  5. States: Georgia and Arizona report record new coronavirus cases — California shuts down bars and indoor dining for most residents.
  6. 1 ⚽️ thing: 6 players test positive for coronavirus before MLS comeback tournament.
Updated 3 hours ago - Politics & Policy

Biden outraises Trump again with record $141 million June haul

Democratic presidential candidate and former Vice President Joe Biden at Philadelphia City Hall in Pennsylvania in June. Photo: Jim Watson/AFP via Getty Images

Former Vice President Joe Biden and the Democratic Party raised $141 million in June, his campaign announced on Wednesday night.

Why it matters: It's the most the presumptive Democratic presidential nominee has raised in a month. It's also more than the record $131 million President Trump's re-election campaign and the Republican National Committee raised last month.