U.S. stocks finished Friday in negative territory as fears of a downgrade of eurozone ratings by Standard & Poor's were realized.
After the market close, Standard & Poor's officially stripped France and Austria of their triple A credit ratings, along with seven other euro area members. France and Austria are now rated double A plus. Portugal, Italy, Spain and Cyprus had their ratings cut by two notches, while Germany was spared from the mass downgrade. The move came after news reports speculated for much of the session that Standard & Poor's would announce the downgrades.
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After the market close, Standard & Poor's officially stripped France and Austria of their triple A credit ratings, along with seven other euro area members. France and Austria are now rated double A plus. Portugal, Italy, Spain and Cyprus had their ratings cut by two notches, while Germany was spared from the mass downgrade. The move came after news reports speculated for much of the session that Standard & Poor's would announce the downgrades.
Read more ...
Dow Jones Industrial Average (^DJI)
-DJI| Prev Close: | 12,471.02 |
|---|---|
| Open: | 12,469.96 |
| Day's Range: | 12,312.01 - 12,470.12 |
|---|---|
| 52wk Range: | 1,260.62 - 12,928.50 |
