Fitch Ratings gave the US until 2013 to come up with a "credible plan" to tackle its ballooning budget deficit before it downgrades the country's coveted AAA rating.
The ratings agency said on Monday it revised to negative from stable the
The fallout from Standard & Poor's downgrade of the US pushed world stocks to their lowest level in nearly a year on Monday and drove investors into the safety of gold and bonds.
Strange as it may be, investors sough
Finance chiefs from the world's industrial powers pledged on Sunday to take whatever actions were needed to steady financial markets, spooked by the political wrangling in Europe and the US over slashing their huge budget deficits. &nbs
Crude oil prices should bounce back once global markets regain confidence after last week's startling downgrade of the United States' credit rating, the oil minister of OPEC-member Kuwait said on Sunday.
US light crude dived to a low of $8
Gulf markets are expected to fall on Sunday, tracking Saudi Arabia which plunged to a five-month low on Saturday, in the first signs of pressure on world markets after S&P downgraded the US credit rating.
Global leaders arranged a round of emergency calls to discuss the twin debt crises in Europe and the US that are causing turmoil in financial markets.
After a week that saw $2.5 trillion wiped off global stock markets, they are under press
The downgrading of the US's top-tier credit rating has created a grave situation, India's finance minister was quoted as saying on Saturday.
'We will have to analyse (the downgrade). It will require some time. The situation is