• Stock Market Commits Suicide After U.S. Credit Rating Downgraded

    Does anybody know how Wall Street responded just at the beginning of the fall of Rome?

    Wall Street stocks plummeted Monday morning on the first-ever downgrade of the United States' credit rating, with the Dow Jones Industrial Average plunging as much as 380 points in the first hour of trading.

    The move by Standard & Poor's over the weekend to cut the U.S. rating from AAA to AA-plus shook confidence among global investors and added to worries that the world’s largest economy could sink into a double-dip recession.

    Investors dumped stocks and fled into safe havens such as gold, which rose to record highs of more than $1,700 an ounce.

    Oh… my… God! This is more serious than I thought!I never thought I'd actually see this day, and now that's upon me, I almost feel like I'm hallucinating.

    Glenn Beck was right!

    (I'm scared…)

    Photo by Mario Tama/Getty Images News/Getty Images

    Tags: Debt, Economy, Glenn Beck, Money, Standard & Poor's, Wall Street


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