Credit agency Moody's has cut the rating of Spanish government bonds by two notches, echoing Standard & Poor's decision two days ago.
The FTSE 100 has fallen a further 2.7% in early trading after the S&P 500 closed under 1,100 for the first time since September 2010.
Standard & Poor's has downgraded Ireland's credit rating based on the country's weak banking system.
The panel debate whether this fixed income cycle is moving at a different pace
Britain had its AAA credit rating affirmed by Standard & Poor's yesterday, but the ratings agency retained its negative outlook over continued deficit concerns.
This week's panel discusses European equities and the impact of the Greek tragedy
This week's Conjecture panel discuss the prospects for the UK Equity Income sector
Do hedge fund managers really have the relevant skills to successfully manage regulated, Ucits III products?
Standard & Poor's Peter Jones looks at the difficulties of valuing asset-backed securities.