AFP – Former US Federal Reserve chairman Alan Greenspan said Sunday he believes the financial markets will react negatively to the downgrade of the US credit rating, and will take “a while” to settle.
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Greenspan sees negative market take on downgrade (AFP)
China hits out at US debt ‘addiction’ after downgrade (AFP)
AFP – China hit out at the United States on Saturday after its unprecedented ratings downgrade, with state media saying that the world’s largest economy needed to cure its “addiction” to debt.
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Grim economic news clouds Obama 50th (AFP)
AFP – US President Barack Obama turned 50 Thursday, marking the milestone in private in a White House with little to celebrate as poor economic news cast a cloud over his reelection prospects.
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US stocks plunge in worst day since crisis (AFP)
AFP – The Dow Jones Industrial Average plunged 4.3 percent Thursday, its worst one-day drop since the financial crisis, as global markets melted down over fears of a new economic downturn.
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US markets plunge; Dow loses more than 300 points (AFP)
AFP – US stock markets plunged Thursday, as worries over global growth grew following a rout in Europe’s markets driven by sovereign debt fears and more poor US data pointing to the economy stalling.
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US borrowing tops 100% of GDP: Treasury (AFP)
AFP – US gross debt shot up $238 billion to reach 100 percent of gross domestic product after the government’s debt ceiling was lifted, Treasury figures showed.
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Asian stocks dive as fears outweigh debt vote (AFP)
AFP – Asian markets tumbled on Tuesday as news that US lawmakers had voted in favour of a plan to avoid a default were wiped out by renewed fears over the global economy and a possible US credit rating cut.
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Obama, Democratic allies to huddle on debt stalemate (AFP)
AFP – US President Barack Obama called an urgent White House summit with key Democratic allies Saturday as his Republican foes said fever-pitch efforts to avert a disastrous debt default would soon pay off.
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US ‘almost out of time’ for debt deal: Obama (AFP)
AFP – Spurred on by President Barack Obama, US lawmakers on Saturday dove into a frantic beat-the-clock weekend effort to avert a debt default that could plunge the world economy into recession.
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Investors head to safety as US default nears (AFP)
AFP – Investors headed toward safety — including into US Treasury bonds — as the deadlocked US government moved closer to defaulting on its debt and being hit with a historic credit downgrade.
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Weak growth, debt standoff punish US stocks (AFP)
AFP – US stocks sank on Friday, weighed down by an unexpectedly negative report on the country’s economic growth and nervousness over the debt-ceiling battle in Washington.
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Chinese media attack US over debt battle (AFP)
AFP – Chinese media attacked the United States over its debt wrangling Friday, warning that lawmakers could depress the value of the dollar, fuel global inflation and plunge the world into another recession.
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