By Mike Zaman

Investors already jittery over Europe’s financial crisis only needed one more incentive to bail completely from the market. That incentive has arrived in the form of Fitch’s downgrade of Spain.

Directly after the announcement the market took an immediate dive amounting to more than a one percent fall. By the end of the day the market could fall to a new low, and if it does it will set in play a Tuesday opening that could trigger a panic sell off.

At this point, we can only sit back, take a deep breath, and hope for the best.

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