Breaking News-RTRS-WRAPUP 4-S&P cuts Greek debt to junk, downgrades Portugal

ATHENS/BERLIN, April 27 (Reuters) - Rating agency Standard and Poor's slashed Greek debt to junk status on Tuesday and also downgraded Portugal, as investors worried political pressures could block a multi-billion euro bailout of Greece.
Markets in Europe and the United States tumbled in reaction to signs that the Greek debt crisis was spreading to other highly indebted states on the periphery of the euro zone.