Obama'S Speech Is Hard To Pull Down; &Nbsp; Global Stock Markets Suffer From Black Monday.

On the morning of August 9th in Beijing, President Obama delivered a speech at the White House on the S & P's downgrading of US sovereign credit rating, insisting that US credit is still the safest in the world.

But on that day New York

Obama, the White House, said that credit is still the safest.

US President Obama delivered a press conference at the White House on 8 local time to deliver a speech on standard and poor's downgrading of the sovereign credit rating of the United States.

He said that for US policymakers, the real economic challenge facing the United States is to take effective measures to improve long-term financial sustainability.

Obama said that as long as there is enough political will, the economic problems of the United States are "able to be solved".

He hoped that the downgrading of the US credit rating would give the members of Congress a new sense of urgency to solve the long-term US deficit challenge.

He also said that the United States knows and is making financial adjustments to help.

Obama refuted the S & P's negative outlook for the United States.

He said that no matter what a rating agency says, the United States is and will always be a AAA sovereign rating country.

He said that no matter what ratings the rating agencies give us credit, "the market still recognised that our credit is the safest in the world, and the challenge we face is the need to solve the long-term deficit."

The US stock market plummeted and the Dow fell below the 11000 psychological barrier.

On Monday, the US stock market did not lose much.

The Dow Jones Industrial Average fell 634.76 points to 10809.85 points, while the Nasdaq composite index fell 174.72 points to 2357.69 points, or 6.90%, while the standard & Poor's 500 index fell 79.92 points, or 6.66% points, at 1119.46 points.

The Dow Jones index fell 11000 points at a critical juncture during the afternoon as investors became extremely panic after the S & P lowered the US sovereign credit rating.

Although President Obama issued a speech on economic issues in the afternoon, the Dow Jones index rose to a psychological defense line at 11000, but it soon fell apart.

Today, the Jones index has dropped by nearly 640 points.

"Two housing" credit rating was downgraded to boost the index's new fall.

On the 8 day of local time, standard & Poor's lowered the rating of the us two loan mortgage Finance Companies Fannie Mae and Freddie Mac from "AAA" to "AA+" after lowering the US credit rating.

S & P's statement said that the downgrading of "two housing" rating reflects their dependence on the US government.

S & P believes that since its takeover in 2008, its ability to finance operations has been heavily dependent on the federal government of the United States.

At the same time, a number of loan related companies and trading institutions were downgraded, including Depository Trust Companies, state securities Clearing Corp, fixed income Clearing Corp and Options Clearing Corp, all of which were reduced from "AAA" to "AA+".

Standard and poor's lowered the rating of Fannie Mae and Freddie Mac, causing serious concern in the market and strong reaction in the stock market.

After the news, Dow Jones 30 industrial stocks average price index plummeted 3%, standard & Poor's 500 stock index and Nasdaq composite index fell 4%.

European stock market performance was bleak and widespread.

The 8 day was the first trading day after standard & Poor's downgraded the sovereign debt rating of the United States. It is widely expected that European stock markets such as London will sharply lower.

However, the European central bank generally gained a high level after the opening of the European Central Bank after being stimulated by the European Central Bank's purchase of Italy and Spanish bonds. However, after an hour, the European stock market quickly fell back.

London stock market, the financial times, the 100 stock average price index fell sharply on 8 days, closing at 5068.95 points, down 178.04 points, or 3.39%, compared with the previous day.

The index is the lowest closing level since July 2010, 7.

The DAX index of the Frankfurt stock market in Germany dropped 312.89 points on the 8 day, or 5.02%, at 5923.27 points, breaking below the 6000 psychological barrier.

The 8 day slump made the index fall by more than 17% on the 9 trading day, the worst performance since September 1990.

Paris CAC40 stock index opened briefly after 8 days, and then went downhill more than before. The late market closed at 3125.19 points, down 153.37 points from the previous trading day, or 4.68%.

Asia Pacific stock market faces "black Monday" A shares facing crossroads

Affected by the deterioration of the external environment, the Hong Kong stock market plunged more than 500 points at the opening yesterday, the largest drop in the intraday market of 4.31%, and 20000 points of psychological importance, a 20044.37 year low.

In the afternoon, the index continued to rise, closing at 20490.57 points, or 2.17%.

The major Asian Pacific stock indexes reached a low level yesterday. The Nikkei index of Tokyo closed at 9097.56 points, down 202.32 points or 2.18%, while the Korea composite index plunged sharply, dropping 7% over the same period. The lowest intraday rate dropped to 1800 points, hitting a low level in the past 11 months, closing at 1869.45 points, dropping 74.30 points, or 3.82%, the largest single day decline since November 30, 2009.

The Taipei weighted index closed at 7552.80 points, down 300.33 points, or 3.82%.

Singapore's stock market fell nearly 5% on the 8 day, hitting a 13 month low.

At present, it reported 2888.88 points, down 3.54%.

In China, the Shanghai composite index was also down by 3.79%, the biggest one-day drop in the year.

So far, the cumulative gains of A shares over the past 1 years have been depleted.

Analysts said that the July economic data released by the Statistics Bureau today will become the future weathervane of A shares.

Shanghai and Shenzhen two market value fell 1 trillion

On the same day, the Shanghai composite index opened below 2600 points and ended at 2526.82 points, down 99.61 points from the previous trading day, or 3.79%.

Two city stocks fell, and the total number of pactions increased by less than 120.

The volume of pactions in the two cities was substantially enlarged, and the total volume was close to 215 billion yuan.

The total market value was 24 trillion and 760 billion yuan, a decrease of 1 trillion and 30 billion yuan.

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International crude oil prices slump, capital fled to gold

By the impact of standard and poor's downgrading of US sovereign credit rating, international oil prices plunged after opening 8 days, and oil prices in New York dropped by nearly 4%.

On the 8 day, the light crude oil futures price for September delivery in New York market plummeted 5.57 US dollars, closing at 81.31 US dollars per barrel, or 6.41%.

Brent crude oil futures for September delivery in London market fell $2.95, or 2.7%, at $106.42 a barrel.

Although the European Central Bank has promised to help countries such as Italy, which are deeply in debt crisis, and last weekend the G-7 summit decided to jointly deal with financial market turmoil, but investors' panic was not appeased, and capital fled to gold and other risk aversion.

Yesterday afternoon, New York gold futures electronic disk once rushed to a high of 1717.9 U.S. dollars, a new record high gold prices.

On the 8 day, the NYSE December gold price closed at a record high of $1713.2 an ounce, up 61.4 US dollars from the previous trading day, or 3.7%.

The impact of the S & P adjustment also spread to the foreign exchange market.

On the 8 day, New York dollar fell against the Swiss franc, yen and other hedge currencies, and rose against the euro and the pound.

S & P continues to downgrade the US debt rating or to lower it again.

Standard & Poor's managing director, Chambers, said Sunday that in the next six months to two years, the probability of another downgrade of the US debt credit rating is 1/3.

He believes that "6 to 24 months, the United States debt rating rating outlook is negative."

"Moreover, if the financial situation of the United States deteriorates further, or the political stalemate increases, it may lead to a downgrade.

The negative outlook means that the probability of downgrading this period is at least 1/3.

Chambers said that it will take some time for the United States to restore its AAA rating.

However, Geithner, the US Treasury Secretary, said in an interview that S & P's assessment of the US's sovereign credit rating was "extremely bad" and its conclusion was totally wrong.

Geithner said that the S & P's calculation method was "shocking lack of common sense" and made a real wrong conclusion.

Geithner said: "our economy is very resilient. We are a very strong country. I have great confidence in the recovery of the US economy and the American people."

Earlier, Geithner issued a statement that he would not resign from the position of finance minister.

Moodie said the US debt issue will become a new agreement in the future.

Local time 8, rating agency Moodie Investors Service Inc reiterated that if the U.S. financial and economic prospects continue to deteriorate, the United States will be lowered by 2013 before the sovereign credit rating, but Moodie believes that before the United States Congress will reach a new debt reduction agreement.

Moodie, who once maintained the 3A rating on the US for 2 days, seemed more confident and patient with the US government and hoped to give the US government more time to deal with the debt problem.

Moodie believes that although the debt situation may continue to deteriorate in the next few years, the United States "still has the characteristics of 3A rating."

But Moodie also expressed concern in the report whether the United States could maintain its 3A rating.

Western leaders have concentrated action to prevent the economy from falling into recession.

The European debt crisis continued to ferment and standard & Poor's lowered the sovereign credit rating of the United States, which threatened the collapse of global stock markets on Monday.

Yesterday morning, the G-7 finance ministers and central bank governors issued a joint statement saying they would take all necessary measures to ensure financial stability and economic growth.

When necessary, the G-7 will take joint action to ensure market liquidity and ensure the effective operation of the financial market.

British Deputy Prime Minister Nick Craig also hinted yesterday that the government will introduce a new policy to promote economic growth and will take more measures to stimulate the economy.

George Osborne, the chancellor of the exchequer, also promised to take further measures in the autumn.