The Euro Is Tanking Against The Dollar Right Now

The euro has fallen off sharply in the last hour, ever since Fitch announced ratings downgrades of Italy and Spain.

Markets are off, and gold, silver, and oil have also taken spills since the announcement.

The news bodes ill for the strength of European sovereigns, as contagion threatens to spread from Portugal, Ireland, and Greece to larger economies like Italy and Spain.

Here’s how the euro has done over the last few hours.

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