US downgrade

US downgrade spooks markets

Markets have had all weekend to absorb Friday’s downgrade of the US, but the news is set to cause turmoil in Asia nevertheless.

<div style="text-align: left;"> A news ticker in Times Square announces the downgrade (AFP) </div>

Nick Ferguson

August 08, 2011

Rating agency Standard & Poor’s ruined countless summer holidays on Friday when it downgraded America’s credit rating for the first time, citing weakened policymaking as a contributor to the move to AA+.

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