In August 8Th, China'S Concept Stocks Fell &Nbsp, And 19 Fell By 10%.

In August 9th, the S & P lowered the US sovereign credit rating.

As of 4:00 pm Eastern time,

At 1:30 p.m. Eastern time, President Obama began speaking on Friday's S & P's downgrading of the US credit rating. Obama said in his speech that the United States will always be a AAA rated country. He refutes the action of the standard & Poor's rating agency to downgrade the US credit rating on Friday evening.

Obama said, "the market will go up and down, but this is United States of America.

No matter what agencies say we (do not meet the AAA rating), we will always be a three a rating country. "

At the same time as Obama's speech, the US stock market briefly recovered slightly above 11000 points, but soon fell behind. In the afternoon trading, the share fell by nearly 500 points.

Obama said he hoped that standard and poor's actions to reduce the US sovereign rating from AAA to AA+ would give legislators a new sense of urgency in resolving the debt problem of the United States.

Obama said he did not believe that deficit reduction could be achieved by spending cuts alone.

The international authoritative rating agency Standard Pool Co announced last Friday that it has downgraded the US government AAA's highest credit rating from AAA to AA + for the first time in history.

China's stock market fell across the board, 19 companies fell by more than 10%, UT dropped 19.85%, CWC fell 18.94%, Air Media fell 17.71%, Yongxin Internet fell 17.45%, SMIC dropped by 15.44%, Skye Internet dropped by 15.09%, netqin fell by 15.07%, and the distance education dropped to 13%, overseas Chinese mobile dropped to 13%, Dhin fell down, the Vision China fell, the financial sector dropped, everyone fell, and Wuxi's Suntech fell.