For nearly two years, the Greek debt crisis has been causing financial and political turmoil in Europe.
Now, the widening European troubles are undermining U.S. stock prices and increasing the odds of a global recession.
The crushing debt loads incurred by Greece, as well as Italy, Ireland and others, have "badly rattled global financial markets," Nariman Behravesh, chief economist for IHS Global Insight, a forecasting firm, said Wednesday.