Global Markets

Reid plans to retain only the tax cut for employees to reduce measures cost.

Bonds of highly rated European nations see record volatility.

Bonds of highly rated European nations see record volatility.

Countries could be downgraded based on results of this week's EU summit.

Rating agency expected to issue negative outlook on all 17 countries.

Rating agency expected to issue negative outlook on all 17 countries.

Merkel and Sarkozy to push for penalties for deficit violations.

Merkel and Sarkozy to push for penalties for deficit violations.