Global credit rating agency Standard and Poor's says it is considering downgrading the rating of the European Financial Stability Facility (EFSF).

S&P placed the triple-A rated euro zone bailout fund on negative credit watch Tuesday just one day after warning the credit ratings of 15 euro zone members could be downgraded.

The EFSF’s rating could be marked down depending on whether the ratings of six triple-A rated nations in the euro zone are cut.

Following the agency’s announcement, prices of European stocks, excluding British stocks, plunged.

Meanwhile, at the New York Stock Exchange, the Dow Jones Industrial Average rose four-tenths of a percent on Tuesday.