Asian stocks tumbling overnight (MSCI Asia Pacific down 2.2%) as Europe’s debt crisis worsened and a U.S. factory gauge contracted.
Moody’s lowered debt ratings of 16 Spanish banks and Greece’s credit rating was reduced from B- to CCC by Fitch Ratings.
Dow closing down 0.79% and S&P down 0.92% after SA futures close.
Facebook to start trading today after IPO seals $104 Billion value.
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