Dow Jones futures slip after Moodys lowers Chinese outlook to negative from stable

Some days back I ran a series of updates looking behind the scenes at what is really unfolding in the Chinese economy and it is not positive at all. Well, just now the global ratings agency, Moodys has just this minute downgraded its outlook for China, to negative from stable. That update will not be welcome by the powers in Beijing. The immediate impact of this news has sent the dollar higher and US and European stock futures lower. This news might yet have a deeper impact across the markets, as those in the know are already concerned about the region and what the prospect of a recession in China might have on the global markets. The Dow Jones futures are falling back into the red right now and the outlook for the European opening just turned slightly lower too. However, as usual it remains to be seen if this ratings move will extend on that