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International Markets React to New U.S. Credit Rating

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  • Description

    Markets take a dip in early trading

  • Duration 1:27
  • Date

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News of the Standard and Poor's downgrade of the US credit rating has the world markets reacting Asian stocks taking a -- that Monday's open.

Hong Kong shares fell nearly 3% in early trading.

That's their lowest level in a year.

Australia South Korea and Japan also taking early hits.

Japan's finance minister wants to quell growing concerns America's double -- plus rating.

Could rock global financial markets.

It was still I believe the US government bonds remain attractive financial product the US now has a lower credit rating in several countries including Germany Canada and the United Kingdom President Obama has not publicly spoken of the downgrade.

But Treasury Secretary Tim Geithner says -- -- In lowering the government's credit rating one Australian financial analysts suggest the US credit downgrade will have little to no effect on their economy.

That -- fundamentals.

Strong.

Then -- economy has been -- run that we are in the right place in the world at the -- -- but others will be keeping a close eye and US stocks.

It's really just -- Natalie from the US in the big the big issue will they have the US tried to deny him and how it actually deals with the idea.

With that recent announcements.

I think He has -- the US has two years to turn things around if not America's credit rating could see another decline lowering it to double -- day.

In New York I'm Sanderson.

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