Stocks Continue Dropping-Following Standard And Poors Credit Downrating
After plummeting following S&P’s credit downrating of the US, stocks continued to fall as investors respond in what could be the worst day since October 2008.
Much doubt from the actual enforceability over the tax cuts promised in the Budget “compromise” has left investors, the market, and financial entities skittish. The Debt of Freddie Mac and Fannie May has also been lowered from AAA to AA-plus. Even while Obama talked to today during a press conference-trying to downplay the plummeting stock market-the DOW dropped again. Trying to show he is in command of the situation, Obama dismissed the downturn.