Discussion Topics on 11/18/2011 (Fri)

Topic: The Dow dropped 190.57 points to close at 11905 after Fitch ratings released a report saying that US banks could be "greatly affected" if Europe's debt crisis continues to spread

Link: http://www.businessweek.com/ap/financialnews/D9R22U280.htm

Questions:

1) What are the reasons behind Fitch's report saying "the credit outlook for U.S. banks could worsen unless the euro zone's debt crisis isn't resolved in a 'timely and orderly' manner"? To be specific, is Fitch referring to any particular european country or incident happened recently in the debt crisis? 

2) Some remain optimistic towards U.S. market, saying "the U.S. could set a positive tone for the rest of the world markets by the end of the year even though Europe continues to be a problem". Do you agree or disagree, why or why not? Base your answers on the latest performance in U.S. financial market. 

Related stories:

1) http://news.businessweek.com/article.asp?documentKey=1376-LUST670D9L3501-1E0G3RO91QB1GKGIU3MSDIINF6

2) http://blogs.wsj.com/marketbeat/2011/11/17/fitch-rattles-market-again-this-time-with-warning-on-italy/?mod=google_news_blog

3) http://online.wsj.com/article/BT-CO-20111117-708478.html