World shares retreat on French jitters

Stock markets across the world declined heavily today amidst whispers that France will be the next nation to have its credit rating downgraded. These rumors of a French credit downgrade aren't true, but skittish markets plunged anyways. From the Australian Broadcasting Corporation, so their morning is our evening:

Wall Street closed down more than 4 per cent this morning after another night of heavy losses on European trading floors sparked by rumours that France will be the next country engulfed in the euro zone debt crisis.

Photo: Richard Drew, Associated Press; A specialist works at his post on the floor of the New York Stock Exchange Tuesday, Aug. 9, 2011.