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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]
The crisis sparked the most volatile week for financial markets since the 2007–2008 financial crisis, with the stock market trending significantly downward. Prices of government bonds ("Treasuries") rose as investors, anxious over the dismal prospects of the US economic future and the ongoing European sovereign-debt crisis , fled into the ...
The U.S. Financial Crisis Inquiry Commission reported its findings in January 2011. It concluded that "the crisis was avoidable and was caused by: Widespread failures in financial regulation, including the Federal Reserve's failure to stem the tide of toxic mortgages; Dramatic breakdowns in corporate governance including too many financial ...
2007–2008 financial crisis; Great Recession (worldwide) 2000s energy crisis (2003–2009) oil price bubble; Subprime mortgage crisis (US) (2007–2010) 2000s United States housing bubble and 2000s United States housing market correction (2003–2011) 2008–2010 automotive industry crisis (US) 2008–2011 Icelandic financial crisis
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Many people can't wait to toast 2011 goodbye -- and good riddance. At this time last year, maybe you thought the economy would be a bit more gracious by now. You might have gotten that raise, that ...
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 ...
In a year saturated with big financial headlines -- the debt-ceiling debate, Occupy Wall Street protests, the ongoing mortgage crisis and the eurozone meltdown, just to name just a few ...