S&P Puts US Debt Outlook to Negative, Raising Downgrade Concerns

Debt concerns in advanced economies dominated financial markets yesterday. Reports that Greece had requested debt restructuring from the EU/IMF weighed pressured the euro, sending EURUSD to a 2-week low. European bourses declined with the DAX and CAC 40 Indices losing more than -2%. In the US, S&P put the US AAA credit rating on negative outlook, suggesting a 33% chance that it would cut downgrade the country's debts with the coming 2 years. Wall Street tumbled with both DJIA and S&P 500 Index sliding over -1%.

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S&P Puts US Debt Outlook to Negative, Raising Downgrade Concerns