Moody’s downgraded Portugal’s credit standing to junk, the first ratings agency that made the move which mean the country may need a second round of rescue funds before it can return to capital markets.

The rating cut was not absolutely unexpected and reminded that troubles in Europe are not ending with Greece’s bailout.

Some economists think Ireland may also need additional support, and investors worry Spain and Italy could be next in line for aid.

"It goes to show that this whole crisis isn't over just yet," said Jay Bryson, global economist for Wells Fargo Securities in Cape Hatteras, North Carolina. "Even if they cough up some more money for Greece, and that looks like it's a done deal, it's not over.