Fitch Ratings has downgraded Greece's Long-term foreign and local currency Issuer Default Ratings (IDR) to 'B+' from 'BB+ and the Short-term IDR remains at 'B'. All three ratings have been placed on Rating Watch Negative (RWN). The agency has simultaneously affirmed the euro area Country Ceiling at 'AAA', which is applicable to all euro area member states, including Greece.

S&P cuts its rating on Greece's long-term credit rating to B from BB- as there is increased risk the country will take steps to restructure private debt. Greece will likely share its debt burden with eurozone creditors.

Euro fell against dollar following the news. Next Moody’s turn?

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As rebels regained some new grounds in port town, Gadhafi writes a warm letter to Obama calling him “our son” and asking him to stop the operation. His forces are busy bringing oil production in eastern Libya to a halt. Hillary say no the request.

US arms the rebels to attack the Gadhafi’s forces, at the same time attacks the Al Qaeda who are among Libya's rebels. What a great strategy! We are destined to win on both sides!

The Economist Intelligence Unit makes changes to earlier forecasts and expects a faster US GDP growth and higher oil prices at US$101/barrel in 2011 up $11 from an earlier estimate.

Goldman Sachs says the macroeconomic view is darkening in the credit market and fear of inflation is rising.