Stocks Lose Steam Amid Imminent S&P Eurozone Downgrade Warning
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Stocks gave up most of their early gains Monday afternoon following reports that S&P will place all 17 Euro nations on watch for a downgrade, including AAA-rated countries like France and Germany.
Heading into the close, Dow is up 27, after being up nearly 170 points earlier. The Nasdaq is up 16 and the S&P 500 is up 6.
S&P is expected to make the announcement at around 4PM ET.
The firm will move the ratings to CreditWatch Negative, which implies a 50 percent chance the countries will be downgraded over the next 90 days.
Heading into the close, Dow is up 27, after being up nearly 170 points earlier. The Nasdaq is up 16 and the S&P 500 is up 6.
S&P is expected to make the announcement at around 4PM ET.
The firm will move the ratings to CreditWatch Negative, which implies a 50 percent chance the countries will be downgraded over the next 90 days.
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