It's A Bad Scene All Around Europe This Morning

Rough markets today in Europe, one day after Moody's downgraded Portugal to junk.
Portuguese bonds are getting hammered as are other bonds from the other PIIGS. Irish debt is also getting smashed.
Equities are down across the board.
Germany's off just 0.23%, but Spain is off 1.5%, and Italy is down 1.9%! Athens is off 0.5%.
So yeah, ugly across the board.
It looks like the big risk rally is finally taking a break.
For more on what's going on in Italy this morning, see here.
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See Also:
- Markets Turn Straight Down As Moody's Downgrades Portugal To Junk
- The Most Important Part Of Moody's Big Portugal Downgrade
- Why The Moody's Downgrade Of Portugal Is Having Such A Profound Effect Today
Source: http://feedproxy.google.com/~r/businessinsider/~3/Er6MZulPG3s/morning-markets-july-6-2011-7
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