As if the fiscal cliff isn't enough to make investors sick with worry, the financial woes of Europe reared up again.
Late Monday, Moody's Investors Service strippedFrance of its prized triple-A credit rating on Tuesday.
Specifically, Moody's lowered France's sovereign rating by one notch to Aa1 from Aaa, citing the country's "deteriorating" economic prospects and the consequent risk to government finances. The ratings agency kept its negative outlook on the country. Read More: France Is Dealt Another Downgrade — Who Is Next?
Standard and Poor's, which downgraded France by one notch in January, has an AA-plus rating and a negative outlook on the country. Fitch Ratings has a triple-A rating for the country, but with a negative outlook.