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Monday, August 8, 2011

Another Black Monday? ctd...

Aug 8th, 2011

Agence France-Presse sure thinks so:

"In a sign of the possible trouble to come, the Israeli market fell some six per cent Sunday and Gulf markets tumbled on opening although they later trimmed some losses as investors reacted to Standard & Poor's unprecedented cut in the U.S. rating to AA+ from the top notch triple-A.

"Until the stock markets open tomorrow the extent of earthquake caused by the downgrade of the U.S. debt rating will not be known," said Spain's El Pais daily newspaper. "But everything points to a black Monday, which may intensify the attacks on the euro."

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