The global stock market dipped on the 8th. The Dow Jones Industrial Average fell 5.55 percent, the German stock market fell 5%, the United Kingdom fell 3.4%, France fell 4.7%, Spain fell 2.4%, Italy fell 1.5%, Russia fell 7.84%, Brazil fell 8.09% Mexico fell 5.88%.
International oil prices plunged on the 8th. New York crude oil prices closed at 81.31 US dollars per barrel, a decrease of 6.41%.
The international gold price hit another record high on the 8th and broke through the $1700 mark per ounce. The New York market gold price closed at $1713.2 per ounce, an increase of 3.7%.
Although Standard & Poor's downgraded the U.S. credit rating, safe-haven funds still flowed into US Treasury bonds. The yield on the 10-year US Treasury bond closed at 2.32% on the 8th, close to a 10-month low.
Standard & Poor's downgraded the ratings of Fannie Mae and Freddie Mac of the United States from AAA to AA+, as well as deposit trust companies, state securities clearing companies, fixed-income clearing companies, and options clearing companies.
Ratings agency Moody's said that if the US fiscal and economic outlook continues to deteriorate, the US sovereign credit rating will be lowered before 2013, but Moody's believes that before this, the US Congress will reach a new debt reduction agreement.
U.S. President Barack Obama said that no matter what ratings agencies give U.S. credit, the market still confirms that our credit is the safest in the world. The challenge we face is that we must resolve the long-term deficit.
According to Reuters, the United States Senate Banking Committee began to investigate the S & P downgrade of the United States, but has not yet decided whether to hold a hearing.
The European Central Bank entered the market to purchase Italian and Spanish government bonds, and the yields on the two countries' bonds have plummeted.
International oil prices plunged on the 8th. New York crude oil prices closed at 81.31 US dollars per barrel, a decrease of 6.41%.
The international gold price hit another record high on the 8th and broke through the $1700 mark per ounce. The New York market gold price closed at $1713.2 per ounce, an increase of 3.7%.
Although Standard & Poor's downgraded the U.S. credit rating, safe-haven funds still flowed into US Treasury bonds. The yield on the 10-year US Treasury bond closed at 2.32% on the 8th, close to a 10-month low.
Standard & Poor's downgraded the ratings of Fannie Mae and Freddie Mac of the United States from AAA to AA+, as well as deposit trust companies, state securities clearing companies, fixed-income clearing companies, and options clearing companies.
Ratings agency Moody's said that if the US fiscal and economic outlook continues to deteriorate, the US sovereign credit rating will be lowered before 2013, but Moody's believes that before this, the US Congress will reach a new debt reduction agreement.
U.S. President Barack Obama said that no matter what ratings agencies give U.S. credit, the market still confirms that our credit is the safest in the world. The challenge we face is that we must resolve the long-term deficit.
According to Reuters, the United States Senate Banking Committee began to investigate the S & P downgrade of the United States, but has not yet decided whether to hold a hearing.
The European Central Bank entered the market to purchase Italian and Spanish government bonds, and the yields on the two countries' bonds have plummeted.
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