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In finance and investing, Black Monday 2011 refers to August 8, 2011, when US and global stock markets crashed [1] following the Friday night credit rating downgrade by Standard and Poor's of the United States sovereign debt from AAA, or "risk free", to AA+. [2] It was the first time in history the United States was downgraded. [3]
Prior to the 2011 debt ceiling crisis, the debt ceiling was last raised on February 12, 2010 to $14.294 trillion. [ 41 ] [ 42 ] On April 15, 2011, Congress passed the last part of the 2011 United States federal budget in the beginning 2012, authorizing federal government spending for the remainder of the 2011 fiscal year, which ended on ...
The August 2011 stock markets fall was the sharp drop in stock prices in August 2011 in stock exchanges across the United States, Middle East, Europe and Asia. This was due to fears of contagion of the European sovereign debt crisis to Spain and Italy, as well as concerns over France's current AAA rating, [1] concerns over the slow economic growth of the United States and its credit rating ...
Here's the headline of the year: Apple (NAS: AAPL) now has more cash than the U.S. Treasury. As of Wednesday, the U.S. government had an operating balance of $73.7 billion. Apple has $76 billion ...
The odds that the U.S. will default on its debt on or after Aug. 2 increase each day. Some credit analysts now believe the chances are better than even that insolvency could become a reality.
The U.S. debt ceiling talks continue to stagnate in Washington, but the degree to which the rest of the country cares seems limited at best. In the meantime, the debate appears to be political ...
An eleventh-hour deal saved the U.S. from defaulting on its debts in 2011. The brakes aren't as reliable this time. This time, the debt ceiling crisis really could end in disaster
The debate sounds eerily similar: Newly elected House Republicans, eager to confront the Democratic president, refused to raise the debt limit without cuts to federal spending.