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Europe stock futures drop on bank downgrades

European stock futures declined Wednesday as Moody’s Investors Service downgraded Societe Generale SA and Credit Agricole SA and Chinese Premier Wen Jiabao said developed nations should not rely on China to bail them out. U.S. futures and Asian shares dropped.

 

Fitch warns of downgrades for China, Japan

Fitch Ratings warned on Thursday that it might downgrade the credit rating of China within two years and there was a greater than even chance of a downgrade of Japan's credit status.

 

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