US markets yesterday plunged more than 5% after S&P downgrades US credit rating to AA-Plus status – an unprecedented move due to spiraling US debt.
Dow Jones Industrial Average dropped 5.5% or 634 points – its 6th biggest point loss ever in history.
Nasdaq dropped 6.9% or 174 points and S&P 500 plunged 6.6% or 79.92 points
Meantime Oil dropped 4.6% and Gold crossed 1700 limit and now at $1728,
Asian markets also trading in Deep Red in the morning with Nikkie down 363 points or 4%