Stocks drop after Greece debt cut to junk
Shared by Henry
What the market is reacting today is sending a message to European politicians that maybe is time to stop posturing and get on with saving your currency and global economy. Re-election may be important, but a total collapse of the European economy is the likely result of Greece default, which will leave none unscathed, including Germany.
Stocks slumped Tuesday after Standard & Poors cut Greece's debt rating to junk and lowered Portugal's debt rating, raising fears of a euro zone debt crisis throwing a monkey wrench into the global economic recovery.
