US Downgrade Causes Market Falls
Published / Last Updated on 18/04/2011
US Downgrade Causes Market Falls.
Markets plunged yesterday following Standard and Poor downgrading its outlook for US sovereign debt from stable to negative. The FTSE had fallen by over 2 per cent to 5,874, the Dow Jones fell 1.6 per cent to 12145.51, while the Dax and Cac 40 also feel by 2.23 and 2.44 per cent respectively.
Standard and Poor expressed concern that the Democrats and the Republicans will not reach an agreement on how to reduce the growing US deficit.