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. >> and as erica miller reports financial crisis may be something that affects the u.s. and around t >> reporter: the s&p downgrade of european debt has been well flagged. the ratings agency put 15 of the 17 eurozone nations on review for a mass downgrade over a month ago. but the sharp sell-off in global markets today illustrates just how nervous investors are about the region. >> the entire situation is one big issue of confidence and whether the europeans can act decisively and swiftly enough to restore investor confidence. otherwise, this issue that's been dragging on for two more years could get a little bit worse before it gets better. >> reporter: and if it gets worse in europe, you can bet there will be reverberations around the globe. downgrades typically make it more expensive for countries to borrow money, and that increases the risk that the economic downturn in the region will become more severe. >> the more expensive it becomes for them to service debt, that's eventually gong to lead to weaker growth of those economies-- the need to tighten fiscal policy. s

erica miller reports. >> reporter: we all have to eat and drink, so you would think demand for beverages like coca- cola would be strong in good times and bad. but wall street analysts are worried that weak demand in some european countries is taking a toll on the company's bottom line. another big headwind is the dollar's rise against the euro. >> the big impact that it has, i think, for coke, is when currency works in their favor like it did in 2011, they reinvest some of that money back behind volume growth or long term revenue growth. when it works out of their favor, they don't have that same flexibility as they otherwise would. >> reporter: that's part of the reason u.b.s. downgraded coca- cola stock from "buy" to "neutral" today. the firm has an investment banking relationship with the beverage giant. coke is far from the only big american company that could take an earnings hit from sales erosion in europe. roughly 14% of all revenues earned by s&p 500 firms come from the region. a slew of companies in different industries have blamed europe for pressuring earnings, including tec

>>erica: good morning james miller taking pictures from and you could see it is a little foggy out there no problems of visibility over this particular stand, but some poor working up to fog especially in the north bay and are in the valleys. into the afternoon the fog will burn off the we will see mostly sunny conditions it will be slightly cooler compared to what we saw yesterday and into the overnight hours we will see partly cloudy conditions for temperatures in the 40's. fog tracker for in your visibility charge of the ban on former screen and became less than a half mile visibility to petaluma and correction down through san raphael. that great hugging the coastline north of san raphael. on the coastline we have two and 5 mi. worth of visibility. you could come into some hazardous conditions out on the road would. taking a bit navato, there are ready at the freezing mark. >>erica: into the afternoon it will be slightly cooler compared to saw yesterday tuned locations actually struggled to get in the '60s unit check out fremont coming in at 59 degrees. 58 for those that have moon ba