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China downgrades America's credit rating as markets suffer worst falls since 2008

http://www.dailymail.co.uk/news/article-2021782/US-debt-deal-China-downgrades-Americas-AAA-credit-rating.html?ito=feeds-newsxml

As an official downgrade of the country's crucial AAA rating inches closer, the Dagong Global Credit Rating Company announced a slide from A+ to A, citing doubts over Washington's ability to pay off its debts.

It comes after yesterday's debt deal triggered gloom in Wall Street where the stock market is on its longest losing streak since the financial meltdown of 2008. The Dow Jones yesterday had its worst day in more than two months, and closed below 12,000 for the first time since June 24


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