Standard & Poor’s

Standard & Poor's has said a ‘perfect storm' may be brewing in corporate credit markets if a global economic downturn combines with credit rationing to thwart corporations' $46trn refinancing needs.

BlackRock's Will Landers on the prospects for a rapidly growing market spurred by commodity demand.

France's AAA credit rating is safe, according to ratings agency Fitch, which has reassured market the election of Socialist President Francois Hollande has no implications for the country's credit rating.

US

Wall Street opened lower today, echoing losses seen in European and Asia, as investors took profits from the recent rally.

MAPPING THE DEBT CRISIS

Barclays was among six global banking groups to be downgraded by Fitch last night, with the ratings agency pointing to challenging financial markets.

Head of the International Monetary Fund (IMF) Christine Lagarde has warned the world economic outlook is "gloomy" and no country is safe from rising risks.

Fitch has become the third ratings agency to downgrade the outlook for the US, from stable to negative, following a congressional committee's failure to finalise deficit cuts.

Credit rating agency Moody's has warned on the status of France's AAA-rating after the yield on its bonds spiked last week.