Aug 9, 2011

VOA Special English News 34

Share prices dropped sharply on world markets Monday. On the first day, investors could react to the lowered United State credit rating. The Standard & Poor's rating agency lowered the credit rating Friday. The Dow Jones Industrial Average was down about five and half percent Monday. The S&P 500 closed almost 7% lowered. Prices on European markets were down between 3 and 5 percent. Earlier Monday, Asian markets closed between 2 and 4 % lowered.The world markets also were reacting to Europe's debt crisis. Investors sold shares to put their money in more secure investments, such as gold and the United States Treasury bonds. Speaking at the White House, President Obama called for commonsense and compromise. He said the problem was a refusal to put what is the best for the country ahead a political party.


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