Numerous Official Efforts to Halt Market Turmoil Mostly Failing

August 8, 2011

After markets closed Friday, S&P downgraded the U.S. credit rating from AAA to AA+ and retained a negative outlook, meaning more downgrades are possible. Stocks in Israel tumbled almost 7% on Sunday. G-20 finance ministers and central bank governors released a statement that “affirms our commitment to take all necessary initiatives in a coordinated way […] More