WKYT | Lexington, Kentucky | News

World stocks mixed after Europe credit downgrades

BANGKOK (AP) - International stock markets are mixed today with losses throughout Asia and skittish performance in early European trading.

Investors reacted to a ratings downgrade that rattled Europe and crucial talks aimed at nudging Greece toward solvency which were mired in disagreement.

Without the debt swap being negotiated, debt-crippled Greece is unlikely to secure a second financial bailout - which could hurtle the country into bankruptcy and send economic shock waves around the world. Greece's first bailout came in 2010.

Some analysts say they believe that dealers have largely factored in the risk of a Greek default in their trades and were more concerned about what simmering tensions in the Middle East and Nigeria might do to oil prices.

Benchmark crude oil prices rose above $99 per barrel.

U.S. markets are closed for a holiday today.


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