Moody's puts Spain's credit rating on review

The threat of a downgrade, which comes after the rating agency cut the country's sovereign debt rating from triple-A to Aa1 in September, will further escalate euro contagion fears after Ireland's €85bn bailout. Markets across Europe fell in response to the rating agency's action, with London's FTSE down 0.3%, Germany's Dax slipping 0.5% and France's Cac 40 sliding almost 0.7%. Barclays is the FTSE's worst performer, down almost 3%. The euro also lost ground against the dollar and sterling after Moody's announcement. Yields on Spanish bonds rose today, too, in an indication investo...