Stocks around the world plummet as the rating of Greece is downgraded to junk status

AMRITA: The head of the IMF and the European Central Bank will be in Berlin today to discuss the Greek financial crisis with German Chancellor Angela Merkel. With Tuesday's downgrade of Greece's credit rating to "junk" status, market pressure has intensified. ARIANNE: The ratings agency Standard and Poor has also downgraded Portugal bonds by two notches. Stocks in Europe and the US plunged on the news. Today Asian markets also fell as Greece scrambles to get emergency loans to avoid a debt default.