S&P

The Dow Jones suffered its sixth-worse loss ever on Monday, dropping 634 points in the first trading day after S&P's downgrade of the United States.

U.S. stocks plummeted for the second straight session, driving the S&P 500 and the Nasdaq down 6 percent on Monday in the first session since Standard & Poor's cut the nation's perfect AAA credit rating.

Call it downgradeageddon, the fear sending U.S. markets sharply lower.

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.

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 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.

Treasury Secretary Timothy Geithner has assured President Obama he will keep his position through the current term, despite calls for him to resign in light of the S&P downgrade.

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.

Some investors, who were already jittery about the European debt crisis, and continued bad news on the US economic front, appear to have thrown in the towel.

If, as a stock investor, you're a little jittery following Standard & Poor's downgrade of the U.S. Government's credit rating, you're not the only one. The stock market has tumbled, and more declines may be ahead. Even so, keep in mind that a good portion of the money made in stocks stems from not panicking.

Trump believes the whole thing is a ?publicity stunt? by S&P.

In 1986, Moody?s and Standard & Poor?s cut Australia?s debt rating, prompting the Canberra government to impose strict budget cuts.

Toronto's main stock market index sank more than 3 percent to its lowest point in nearly a year on Monday as a downgrade of the U.S. credit rating shook investor confidence globally and drove commodity prices sharply lower.

Shares of major gold mining companies notched fresh gains in midday trading Monday as the price of the precious metal topped $1,700 per ounce.

The United States is unlikely to get its AAA rating back any time soon, and if Washington fails to follow through on spending cuts, the nation faces an even further downgrade, two Standard & Poor's execs said Monday.

The former labor secretary described S&P?s downgrade maneuver as an ?ironic? intrusion into American politics.

Buffett also pointed out that his company?s exposure to US Treasuries is quite significant.

These institutions process trades and are key to the daily operation of the U.S. financial markets.

Credit ratings agency S&P threw a monkey wrench in the works by downgrading its long-term credit rating for the U.S. from AAA to AA+, just days after President Obama signed a debt-limit compromise.

Standard & Poor's downgrading in the U.S. continued Monday, as the ratings agency lowered Fannie Mae and Freddie Mac, which own or guarantee roughly half of all mortgages in America.

It looks like the U.S. Government isn't the only one taking a ratings hit. Standard & Poor's cut Freddie Mac's and Fannie Mae's long-term ratings one notch on Monday.