Nine nations in Europe are down graded. What does it mean?

   I do not have time to write at length on this matter,  but I believe the effect of the downgrade will be similar to that of the United States . . . . .  little more than a statement on the part of the S&P that the individual economies are seem to be trending downward.  

Treasuries will bring in a considerable amount of new money at 1.8% interest  . . . . . about as cheap a borrowed sum of money as anyone could hope for;  financials (banks, etc.) , however,  will take a hit but should rebound.

Understand that Europe is "in the middle of it,"  even without the downgrade. There are 18 nations using the Euro as their national currency,  but the dollar is the world's commodities currency.  That fact provides the US with a bit of a hedge . . . . . .  things could get worse in Europe while financial matters limp along in our country on the comparative strength of the dollar.  

I want to let things work themselves out, over the weekend,  and then develop a serious report for Monday. 

Update:  one thing for certain,  there is no new information or financial events other than the news of the downgrades,  themselves.  Many believe that because of this fact,  life will return to 'normal' in a few days,  for most countries involved.  

Greece is already in the tank.  Portugal's finances were reduced to "junk status," so life will not be 'normal' for a few European nations.