RISK BACK OFF: The Old Troubles Are Brewing, And Markets Are Falling

Tuesday’s old-fashioned “risk on” rally was fun while it lasted.

Now that’s gone, as a host of concerns have re-entered the market.

Shanghai fell nearly 1% after S&P downgraded local Chinese property developers.

Europe is down across the board, as there are concerns about the fate of the Greek bailout, as well as Moody’s threat to cut the rating of Greek-exposed banks.

Athens stocks are getting clobbered, currently down 1.8%. Update: It’s getting much worse in Athens, and this could be the big story of the day. And see mroe on Greece here.

And the US is falling too, because.. if everyone else is down, obviously the US is going to fall.

For a full look at futures activity, see FinViz >

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