Markets Expected to Suffer as Greek Debt Crisis Worsens

European stock markets took a broadside hit this morning following the ratings cut Standard & Poors imposed on both Greece and Portugal. Spain’s leading stock index fell 3.3 percent while Portugal fell 4 percent. Meanwhile, regulators in Greece have banned short-selling to head-off speculators.

“The market is now looking at every country with a lot of curiosity,” said Gilles Moec, senior European economist at Deutsche Bank. “Portugal is clearly the most fragile country after Greece, but even so there is quite a lot of distance between [the two countries],” he told the BBC.

Source: BBC News

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.