Sky News HD opening: Global market turmoil and eurozone debt crisis - August 6, 2011 (HD)

Global financial markets could face further turmoil in the wake of the US credit rating downgrade.

Credit ratings agency Standard and Poor's said early on Saturday morning they had downgraded the country from its top AAA rating to AA+.

The loss of the rating could reignite panic on the markets as traders worry that the world's biggest economy may be leading the way back into recession.

Markets around the globe suffered huge falls this week, but the US Dow Jones ended higher on Friday after better-than-expected jobs growth figures.

In London, the FTSE 100 index of leading UK shares closed the day at 5246.99, down 146 points or 2.71%.

More than £148bn has been wiped off the FTSE's value since trading opened on Monday - a plunge of 568.2 points or 10.15% - caused by the eurozone debt crisis and fears the economy is stalling.

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News & Politics

Tags:

• Economy
• collapse
• crash
• crisis
• fall
• dollar
• bankers
• madoff
• bailout
• housin
• cars
• financial
• stock
• Europe
• Euromarket
• wall
• street
• Global
• market turmoil
• US Downgrade
• eurozone debt crisis
• US Crisis
• SKY NEWS
• Sunrise Sky

[AreWeNow]

Hopefully it will end quickly!

[garysquirrelreviews]

people think its politics as normal but when there lives are effected in a bad way they will be we wanting an explanation.

we will see inflation and unemployment from your nightmares in 2011-2012 so buy some gold and silver