News Summary

Markets have opened weak today. Few traders are attributing the recent period of market weakness to the hearsay that France, the new epicenter of the Eurozone, is about to face a downgrade. The rumor, if true, would severely impact the EU. The euro was flat during the day, but has since dipped 0.7% versus the US dollar. Crude oil futures are down 1.5% to below $74 a barrel for a fourth consecutive session today. Oil futures swung to losses, as Europe's debt problems have raised concerns about the global economic recovery and with it, the demand for energy. Crude for June delivery fell $1.03 to $73.32 a barrel on the New York Mercantile Exchange (NYMEX). It earlier hit an intraday low of $72.72 a barrel. Procter & Gamble PG is frantically trying to extinguish the Internet wildfire over the safety of its new Pampers diapers. Some mothers have launched a Facebook page to detail their claims that P&G’s re-engineered diapers are causing rashes and burns. These accusations have drawn attention of various product-safety regulators, who have filed lawsuits and initiated inquiries. Meanwhile, the consumer goods maker has called the claims "completely false." Shares of PG were down 0.32% to $62.55 by 11:27 am. Read more from Benzinga's Markets.