Metals were capped most of the day. Could just be a consolidation.
Breaking news after the bell, S&P has cut Greece to 'selective default.' The action is based on the modification of the terms of the debt with some of the bondholders.
"It is crudely general to suggest collective responsibility for the German populace. It is, however, fair to suggest that those who continued to defend the idea of Germanhood publicly as the war went on—when this had become synonymous with barbarity—were in fact renouncing their humanity for the sake of individual survival and peace of mind."
Panayiotis Demopoulos, Götterdämmerung: Suicide Music