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Feels like ‘Armageddon’: Global stock markets fall after US downgrade.
Wall Street set for sharp drop; ‘Investors are concerned about a rising risk of global recession,’ analyst says.

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Feels like ?Armageddon?: World markets fall - Business - World business - msnbc.com


Wall Street is set to plunge at Monday’s open after rating agency Standard & Poor’s cut the top-tier AAA credit rating of the United States, rattling already jittery investors.

The agency’s move came late Friday after a wild week for U.S. stocks — the worst in more than two years — as lingering concerns about sluggish economic growth and heavy public debt loads in developed economies dented investor sentiment.

U.S. stock index futures point to a decline of over 200 points on the Dow Jones industrial average at the start of trading Monday.

Global stock markets sank again Monday as worries about the downgrade of U.S. debt outweighed relief at a European Central Bank pledge to buy up Italian and Spanish bonds to help the two countries avoid devastating defaults.


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