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U.S. shares dip over fears of downgrading

08-03-2011 16:44 BJT

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After the US Senate agreed to a deal to raise the debt ceiling, investors had little to cheer about. That's because analysts believe there's still a possibility the US may lose its triple-A rating. Meanwhile, investor worries over the stalling economy, sent major indexes on Wall Street tumbling overnight.

The Dow Jones industrial average dropped nearly 2.2 percent to 11 thousand, 866. The Standard and Poor's 500 Index declined over 2.5 percent, its seventh straight down day.

It is now in negative territory for the year, having dipped below the key 200-day moving average -- an ominous sign for the market. The Nasdaq Composite Index also fell, retreating 2.7 percent.

Investor worries over the stalling economy, sent major indexes on Wall Street tumbling overnight.


Editor:Li Wanran |Source: CNTV.CN

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