The evening of August 5, one of the three major U.S. credit rating agency Standard & Poor’s announced that the U.S. credit rating from AAA down to the highest level of AA +, and its rating outlook as “negative.” This is the first time in American history, the loss of AAA rating of global concern.
Although the Group of Seven finance ministers and central bank governors before the market opens today in Asia, issued a joint statement, said it would take all necessary measures to ensure financial stability and economic growth, but the growing debt crisis in Europe in the context of the market panic is difficult to eliminate. Affected the Asia-Pacific stocks suffered today, “Black Monday” crash across the board. Spot gold hit a record high of $ 1,704.30 an ounce, at $ 1,702.40 an ounce recently, higher than the market price of New York, $ 39.
CONTINUE READING..............Asian Stocks Hit “Black Monday”
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