Early Wednesday Rally Vanishes Into Thin Air, As Moody's Sends Out Big European Bank Warning

At first it looked like the positive vibrations from the US rally would continue overseas, but at this hour that’s looking less likely.

An early rally in Japan has vanished into the ether.

chart

Not helping things: A big warning from Moody’s on European banks and their exposure to Greek debt.

You can read the whole note over at ZeroHedge. The gist, though is that Credit Agricole SA, BNP Paribas SA, Dexia, and Societe Generale SA are all now on notice.

Between this news, and the report that a Greek aid package may be delayed until July, the euro is well off its Tuesday highs.

NOW WATCH: Money & Markets videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.