Blog Flux Directory Subscribe in NewsGator Online Subscribe with Bloglines Blog directory
And, yes, I DO take it personally: Greece, Portugal, Spain and the U.S. stock market
Mandy: Great blog!
Mark: Thanks to all the contributors on this blog. When I want to get information on the events that really matter, I come here.
Penny: I'm glad I found your blog (from a comment on Think Progress), it's comprehensive and very insightful.
Eric: Nice site....I enjoyed it and will be back.
nora kelly: I enjoy your site. Keep it up! I particularly like your insights on Latin America.
Alison: Loquacious as ever with a touch of elegance -- & right on target as usual!
"Everybody's worried about stopping terrorism. Well, there's a really easy way: stop participating in it."
- Noam Chomsky
Send tips and other comments to: /* ---- overrides for post page ---- */ .post { padding: 0; border: none; }

Tuesday, April 27, 2010

Greece, Portugal, Spain and the U.S. stock market

hey... we're talking globalization here, right...?
Greece’s credit rating was lowered to junk status Tuesday by a leading credit agency, a decision that rocked financial markets and deepened fears that a debt crisis in Europe could spiral out of control.


“This is a signal to the markets that the situation is deteriorating rapidly, and it’s not clear who’s in a position to stop the Greeks from going into a default situation,” said Edward Yardeni, president of Yardeni Research. “That creates a spillover effect into Portugal and Spain and raises the whole sovereign debt issue.”

and here comes that pesky globalization thingy...
Stocks tumbled Tuesday in a global sell-off after Standard & Poor's downgraded the credit ratings of Greece and Portugal.

The Dow Jones industrial average lost 213.04 points, or 1.9 percent, to close at 10,991.99, while the broader Standard & Poor's 500-stock index fell 28.34, or 2.3 percent, 1183.71. The tech-heavy Nasdaq dropped 51.48, or 2 percent, to 2471.47.

Overseas markets also took heavy losses Tuesday, with London's FTSE and the Dax in Germany both down more than 2 percent.

so... whaddaya think... will THIS be the falling of the house of cards...? hmmmmm...?

Labels: , , , , , , ,

Submit To Propeller

And, yes, I DO take it personally home page