Investors are once again concerned about risk as Greece continues to make headlines. Equity futures are sharply lower and appear likely to erase a good bit of yesterday’s gains. Meantime, the dollar is pushing higher. “The centre of controversy or uncertainty lies in Europe, and it all began early yesterday evening after Standard & Poor’s issued a report warning that it may cut Greece’s sovereign debt rating in the next month,” said Jennifer Lee from BMO Capital Markets. S&P wrote: “Greece's large budgetary and external imbalances, combined with a continued weak external economic environment, suggest that deflationary pressures are likely to compound the country's economic travails.” One hour before the open, Dow futures are off 55 points...(read more)

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