Hungarian stocks fell after credit rating downgrade

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Source: Marketwatch
© Scanpix/Reuters

Hungarian stocks decreased rapidly after it was announced that the country's credit rating was decreased to junk status by Moody's Investors. The rating agency claimed Hungary's ability to implement fiscal consolidation is doubtful; moreover, there is turmoil in public-sector debt cut. The BUX index was down 4.3% in the early trade in Budapest.

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