Stock market turmoil rattles fragile European economies

By Spencer Kimball and Mark Hallam – London’s FTSE-100 index fell by 3.05 percent and in Paris the CAC-40 dropped by 5.45 percent while in Frankfurt the DAX tumbled 5.13 percent. In New York, the Dow Jones closed down 4.62 percent.

The losses came as rumors swirled that France, which currently leads the Group of Seven (G7) industrialized nations, could lose its AAA credit rating less then a week after the world’s largest economy – the United States – was downgraded to AA+ for the first time in history. more>


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