Good day… S&P surprised the markets after the US close yesterday and announced a 2-notch downgrade for Spain taking them to BBB-, and didn’t stop there, S&P also announced that Spain was being placed on Negative Outlook. This really took out any wind that existed in the euro’s sails, and made for an ugly Asian session. Here’s the skinny on what’s going on here… S&P had basically joined Moody’s and Fitch in this downgrade, and [...] S&P Downgrades Spain’s Credit Rating Two Notches appeared in the Daily Reckoning . Subscribe to The Daily Reckoning by visiting signup for an Agora Financial newsletter .