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Markets Tumble on European Downgrade Reports

Friday, January 13, 2012 22:48

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Wall Street endured a sharp sell-off Friday morning as financial markets tumbled amid unconfirmed reports that Standard & Poor’s will downgrade a number of European nations later today.
Markets Tumble on European Downgrade Reports

HERE By jturbin January 13, 2012

U.S. equity markets were set to open modestly lower this morning, but later extended their losses amid reports that one of the world’s leading rating agencies plans to lower the credit ratings of France and many other countries following the close of U.S. markets on Friday. For France, such a measure would mark the end of 17 consecutive years being AAA-rated.

According to Reuters, Germany will not be one of the nations downgraded, which cited euro zone sources who spoke on conditions of anonymity.Full article HERE

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