Stocks | Spain Stocks Fall Sharply After Moody's Downgrade
May 20, 2012 – 8:54 am
MADRID (AP) ” Spanish stocks dropped sharply early Friday morning after ratings agency Moody’s downgraded its credit score of 16 Spanish banks in the latest blow to the troubled financial sector .Moody’s acted late Thursday, citing banks’ load of non-performing loans amid a recession-plagued economy, their trouble raising financing on capital markets and the government’s sovereign debt problems,
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