dow closes down 633 points after final plunge

video: obamapocalypse aa+ speech on manic monday
The Dow Jones industrial average finished the day down 633 points Monday after a full-day sell-off accelerated in the final hour of trading as investors struggled to absorb Standard & Poor’s decision to downgrade the United States’ credit rating. Investors piled out of stocks and into a few “safe havens,” such as gold and Treasury bonds. The appetite for Treasury bonds suggests that the Standard & Poor’s downgrade has not shaken investors’ faith in U.S. bonds. Market experts said the Monday sell-off was sparked by the S&P announcement but was motivated more by growing concerns about the weakness of the global economy.

previous: united states loses aaa credit rating*

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