Markets Slip In Asia After Moody's Downgrades Europe

unhappy asian tourist

Photo: Owen Benson on Flickr

Stock markets across Asia are pulling back slightly early in the trading session.Japan’s Nikkei is down 0.2%.

Korea’s Kospi is flat.

Australia’s S&P/ASX is down 0.3%.

Shortly after markets closed in the U.S., Moody’s issued downgrades across Europe. Specifically, it cut its ratings on Italy, Malta, Portugal, Slovakia, Slovenia, and Spain. It also issued negative outlooks for Austria, France, and UK who are all Aaa rated.

But none of this is really a surprise.  The action comes weeks after similar moves by S&P and Fitch.

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