Global Markets Update: European & Asian Shares Fall After S&P Downgrades

5:10 AM ET Mon, 16 Jan 2012

European stocks were down this morning showing a muted reaction to the mass credit downgrade by S&P of nine euro zone countries. Asian shares fell on fears that the rating cuts would further aggravate the euro zone funding difficulties and threaten to derail progress in resolving the debt crisis. Main U.S. markets are closed for the Martin Luther King, Jr. holiday.