This is BIG news that the US credit rating was downgraded Friday after the stock market closed. This is the first time ever and I sense the effects will be great. What I heard is that if this should happen..and it has..then the credit rating of hundreds of other big companies will also be down-graded which will be a domino effect negatively impacting the market.
This past week the markets were very volatile and the Dow made a big drop. I think next week will be another big drop..there is also a rate statement (FOMC) by the Fed on Tuesday which is one of the most volatile events of the month.
Full story here: http://finance.yahoo.com/news/SampP-downgrades-US-credit-apf-2107320979.html
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