Spain’s Credit Rating Downgraded

More economic troubles for Europe: Standard & Poor’s has downgraded the long-term credit rating for Spain to double-A with a negative outlook, just one day after it downgraded its ratings for Greece and Portugal by two notches. "We now believe that the Spanish economy's shift away from credit-fuelled economic growth is likely to result in a more protracted period of sluggish activity than we previously assumed," said one analyst.