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Debt at home and away slows down the market
Widespread uncertainty has the market in a choke hold, sending the S&P 500 down today despite a decent rally in prior weeks. U.S. bank stocks, from JPMorgan Chase to Bank of America, and Italian and Spanish bonds started falling as the European debt problems continue. As reported by Bloomberg, central banks for the European governments would have to double their bailout funds to cover a crisis in Italy.

On this side of the pond, the problems continue to be focused on the debt crisis. With less than a month to come up with a plan that would prevent the U.S. from possibly defaulting on its debt, Democrats and Republicans seem to have made little progress. This has pushed Morgan Stanley (NYSE: MS) downward by 1.1%, Citigroup (NYSE: C) by 2.3%, and Goldman Sachs by 2%. Without long-term solutions to regain investors' trust, the debt crises around the world will continue to pull down the market. Read more at Bloomberg.

BSkyB bid on the line
What seemed to be a mere social scandal for News Corp.'s (Nasdaq: NWS) News of the World, Britain's popular tabloid, has now jeopardized the possible merger of British Sky Broadcasting Group with the giant media conglomerate.

Both parties have been hurt by the scandal involving possible phone hackings. Now, new regulatory hurdles and U.K. Deputy Prime Minister Nick Clegg are pressuring CEO Rupert Murdoch to drop the bid. Shares of BSkyB have fallen by nearly 7% after a sharp sell-off of the company's shares.

In what should be a problem simply involving the alleged actions of the News of the World, politicians and the general public have weighed in about whether the merger should go forward. Those close to the deal say they plan on pushing it through. Read more at The Wall Street Journal.

Samsung and Apple's quarrel may lead to new deals
In a battle that seems to be gaining heat between Samsung and Apple (Nasdaq: AAPL), a more than $5 billion partnership may be up for grabs. Samsung supplies many of Apple's components, but after allegations of patent infringement made by Apple concerning Samsung's new smartphones and tablet, many companies are looking to become Apple's new sweetheart. Among those offering their business is Intel (Nasdaq: INTC), which has previously expressed interest in Apple business.

Nonetheless, both Samsung and Apple need each other, and a separation could result in Apple having to source its semiconductors from various companies, which would take both time and money. As for Samsung, Apple has become its largest client, making it vital for a good part of its business. Read more at Reuters. 

Cisco Systems may cut jobs to get back on track
To counteract a year-to-date fall of 22% in its share price, Cisco Systems (Nasdaq: CSCO) may eliminate about 5,000 jobs and attempt to boost its 2012 earnings, reported Gleacher & Co. The move could trim about $1 billion annually. The largest networking-equipment maker has been facing tough competition from Juniper Networks (Nasdaq: JNPR) and Hewlett-Packard. Read more at Bloomberg.

Dunkin' Brands looks for $460 million IPO
Dunkin' Brands, the parent company for Dunkin' Donuts and Baskin Robbins ice cream, is looking for a $460.6 million IPO, a deal as sweet as its products. According to a regulatory filing, the company plans to sell 22.25 million shares, and underwriters will be able to sell an additional 3.34 million shares. The estimated price range is between $16 and $18 a share.

The company reported a $1.7 million loss in this year's first quarter compared to a $5.9 million profit for the same period last year. Read more at Dealbook.

Afternoon roundup!
So there you have it, the top financial stories for this afternoon. Check throughout the day for commentary on these and other stories. Also, follow us on Twitter, on Facebook, or through our email digests.

Michelle Zayed owns no shares of any companies mentioned in the story. The Motley Fool owns shares of JPMorgan Chase and Apple. The Fool owns shares of and has opened a short position on Bank of America. The Fool owns shares of and has bought calls on Intel. The Fool owns shares of and has created a bull call spread position on Cisco Systems. Motley Fool newsletter services have recommended buying shares of Intel, Cisco Systems, and Apple. Motley Fool newsletter services have recommended creating a diagonal call position in Intel. Motley Fool newsletter services have recommended creating a bull call spread position in Apple. Motley Fool newsletter services have recommended shorting Juniper Networks. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.