UNITED STATES

IBTimes Logo

S&P defends U.S. downgrade; Moody's says U.S. still AAA

Ratings agency Standard & Poor's, still under fire for downgrading the United States late last week, Monday restated the reasons for its decision while rival Moody's set itself apart, saying America still has the characteristics of a AAA-rated country.

Dow Jones Industrial Average Plummets 600 Points

Traders work on the floor of the New York Stock Exchange
The Dow Jones industrial average plummeted more than 600 points midday Monday, as the disarray continues following Standard & Poor's downgrading of the United States' credit rating on Friday. The Dow traded down 536.18 points, or 4.7 percent, at 10908.43. It is fast on track to having its worst day since December 2008. Additionally, the Standard & Poor's 500 index sharply went down 68.49 points, or 5.7 percent, to 1130.89.
More news
IBTimes Logo

S&P: Berkshire outlook to negative amid broad move

Standard & Poor's cut its ratings outlook on Warren Buffett's conglomerate Berkshire Hathaway to negative from stable on Monday, part of a broad action on 10 insurers linked to last Friday's downgrade of the United States credit rating.
IBTimes Logo

U.S. airlines trim fares after FAA shutdown

U.S. airlines have begun rolling back fare increases initiated last month when a partial shutdown of the Federal Aviation Administration halted the collection of certain ticket taxes and allowed carriers to raise base fares without increasing prices paid for tickets.
Obama

Obama Calls for 'Renewed Sense of Urgency' to Balance Budget

In a White House address Monday, President Barack Obama said Standard & Poor's credit downgrade of the United States represented a statement on the nation's political will. Underscoring that "the U.S. is still an AAA country," Obama again called on congressional officials to make the tough decisions necessary to balance the budget long-term.
IBTimes Logo

Dow Loses 4%; Nasdaq, S&P Lose 5%

The Dow lost four percent in trading mid-day Monday, while the Nasdaq and S&P lost five percent. President Barack Obama addressed downgrade Monday, but the markets dropped further after his comments.
President Barack Obama

Obama Says U.S. is Still a AAA Country

President Barack Obama on Monday blamed a downgrade in the United States' credit rating on political gridlock in Washington and said he would offer some recommendations on how to reduce federal deficits.
FBI Child ID App

FBI's New iPhone App Helps Find Missing Children

While news of missing children seems to be unceasing and often end in the worst tragedy, the FBI rolled out its first mobile application this past weekend, aiming to be the aid of parents before and when children go missing.
Afghanistan"s President Hamid Karzai

NATO says helicopter likely shot down by Afghan Taliban rocket

A helicopter that crashed two days ago, killing 38 people in the worst single incident in 10 years of war in Afghanistan, was carrying elite troops sent to help comrades in a firefight when it was likely hit by a rocket fired by the Taliban, NATO forces said Monday.
IBTimes Logo

Stocks Drop, but Bonds Soar

The stock market today show sharp drops, following a downgrade by S&P from a stellar AAA to AA+, including all sectors in the S&P 500. On the other hand, investors are rushing into buying bonds rather than stock.

Pages

IBT Spotlight

We Help Businesses Find B2B Service Providers They Can Trust.