Senate panel to probe US downgrade by S&P

Last Updated: Tuesday, August 9, 2011, 11:24

The unprecedented downgrade of the US' creditworthiness by ratings agency Standard and Poor's may face a probe by a Senate committee, reports have said.

Brent breaks below $100, US crude at 10-month low

Last Updated: Tuesday, August 9, 2011, 10:35

Brent crude plunged to a six-month trough below USD 99 a barrel on Tuesday in a two-session drop of nearly USD 10, after a US credit downgrade intensified fears about a global slowdown in demand for energy.

Dow plummets 600 points over US credit rating downgrade

Last Updated: Tuesday, August 9, 2011, 10:06

Wall Street reflected widespread anxiety over the US economy's health, with the Dow Jones industrial average plummeting over 600 points on the week's first trading day after Standard and Poor's unprecedented downgrade of the US credit rating.

Asian stocks tumble after Wall Street rout

Last Updated: Tuesday, August 9, 2011, 09:07

Asian equity markets were sharply down early Tuesday as investors fearing a possible global economic slowdown continued to flee stocks.

Shock waves in US after S&P downgrades its credit rating

Last Updated: Saturday, August 6, 2011, 13:19

The downgrading of US' credit rating by Standard & Poor?s from 'AAA' to 'AA+' has sent shock waves across the country, with many fearing this could affect the financial system worldwide.

World stocks suffer worst week since 2008' crisis

Last Updated: Saturday, August 6, 2011, 09:54

World stocks fell for an eighth day on Friday, with around USD 2.5 trillion wiped off the value of global equities this week, but hopes the European Central Bank will buy the bonds of Italy's heavily indebted government helped lift markets off the lows of the day.

Wall Street suffers worst selloff in two years

Last Updated: Friday, August 5, 2011, 09:10

Investors fled Wall Street in the worst stock-market selloff since the middle of the financial crisis in early 2009 in what has turned into a full-fledged correction.