Stocks Sink In Early Action on U.S. Downgrade
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Stocks, so far, are faring the worst from the U.S. credit rating downgrade at S&P. Treasuries are holding in, while gold is surging. Oil is also weaker on the implications of a slower economy.
With just under two hours until the U.S. open, S&P 500 futures are trading down 26.50 to 1171.25. Dow Jones futures are down 217 to 11,185.
Gold is up $53.40 to $1703.60. Oil is down $3.57 to $83.31.
In Asia, the Nikkei 225 closed down 2.2%. The Hang Sen fell 2.2% and the Straight Times fell 3.7%.
In Europe, the FTSE 100 is down 1.8%, the DAX is down 2.4% and the CAC 40 is down 1.7%.
With just under two hours until the U.S. open, S&P 500 futures are trading down 26.50 to 1171.25. Dow Jones futures are down 217 to 11,185.
Gold is up $53.40 to $1703.60. Oil is down $3.57 to $83.31.
In Asia, the Nikkei 225 closed down 2.2%. The Hang Sen fell 2.2% and the Straight Times fell 3.7%.
In Europe, the FTSE 100 is down 1.8%, the DAX is down 2.4% and the CAC 40 is down 1.7%.
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