S&P Takes the Axe To Banks; Shares Drop (CS, DB, BCS)
July 03, 2013 at 08:26 AM EDT
S&P cut the debt ratings of three of Europe's largest banks late Tuesday as new rules and "uncertain market conditions" threaten business across the continent. Barclays (NYSE: BCS ), Credit Suisse (NYSE: CS ), and Deutsche Bank (NYSE: DB ) all had their credit ratings cut one