Dow loses 250 points…

…Spain would need to borrow up to $78bn …

…Moody’s expected to start downgrading global banks… Barclays, Deutsche Bank, Citigroup and Goldman Sachs…

Moody’s warned in February that the ratings of 17 banks and securities firms under review because they face increased funding costs and regulatory scrutiny.

…German economy, the safest in Europe, weakening.

German support has so far saved the eurozone from meltdown, Germany’s private sector shrank for the second month running in June, manufacturing, a three-year low.

via Markets fall amid gloomy US forecast and global slowdown

Markets fall amid gloomy US forecast and global slowdown | Business | guardian.co.uk.