Today, both the US’s credit rating was down-graded and the stock market took a rather swift tumble. Here is a news story (The first found by google on this subject.) to perhaps explain the daily events better than I care to.
This was rather expected. After numerous countries around the world had their stock-markets take serious tumbles since the end of last week when the growth reports for Q2 were released, we have seen rather big drops. Add to this the credit rating downgrade and you get the perfect scenario for a big drop in stocks. This by all means probably shows that the next weeks is going to see overall a near reproduction of this over a 4 day period. The question of the hour then is obviously what is the Government going to do about it?