Investors run for cover as GM and Ford cut to junk

Traders snapped up safe-haven government bonds and investors considered reshuffling their portfolios after Standard & Poor's, the rating agency, cut the credit ratings of car giants General Motors and Ford to junk.

General Motors and Ford have a combined debt of close to $500bn (€386bn).

WSJ Logo
110-Hour Workweeks Drove Young Bankers at a Boutique Firm to the BrinkExternal link

110-Hour Workweeks Drove Young Bankers at a Boutique Firm to the Brink