Greek Downgrade Hits Markets Hard (WMT, HPQ)

By: , dated May 17th, 2012
New of a credit downgrade for Greece knocked major indices down by over 1 percent today, with the Nasdaq down over 2 percent. Treasury yields fell, and 30-year mortgages hit a record low. In corporate news, Wal-Mart (WMT) saw its Q1 net income increase by 10 percent. It is being reported that Hewlett-Packard (HPQ) is going to cut between 25,000 and 30,000 jobs.

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