Sorry to Interrupt the Schadenfreude – Europe Melts Down Into the Close

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Standard & Poors is out downgrading every thing that moves in southern Europe while the Senators grill the Goldman boys.

Portugal downgraded to A-/A2, Greece is finally dropped down to junk…

And Spoiler Alert: this time, the US stock market cares, with the Dow down 100 points plus as of 11:30 am.

Here’s some color:

Greece: http://www.marketwatch.com/story/sp-cuts-greece-ratings-to-junk-status-2010-04-27

Portugal:  http://www.marketwatch.com/story/sp-cuts-portugals-sovereign-ratings-to-a-a-2-2010-04-27-114570

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