On Friday evening, Standard & Poor’s announced that they’ve downgraded the U.S. stock rating from AAA to AA. The news sent stock indexes into a worldwide tailspin, with Asia falling more than 2 percent and European indexes continuing to slide as well. And at this morning’s opening bell, investor anxiety was evident - the Dow Jones quickly fell over 300 points, nearly 3 percent, while the S&P 500 lost 40 points, or 3.3 percent. This continues a two-week trend of market fallout, with prices below where they were at the beginning of the year. President Obama responds to the situation in a statement to the press today; we’ll carry his speech live, and then get a reaction from economic experts.
Guests:
David Mark, Senior Editor for Politico.com
Michael Linden, Director for Tax and Budget Policy at the Center for American Progress
Chris Farrell, Economics Editor, Marketplace Money