Rating agency Standard & Poor's (S&P) downgraded on August 5 the credit rating of the United States from its AAA to AA-plus, triggering a tumult on the global market while driving up the gold price to record highs as panic spread through the market.

News:  

•  Wall Street bounces back on upbeat job data

•  Wall Street in chaos after downgrade, Dow plunge

•  China stocks dive amid US woes

•  Dow plunges 512 points, worst since 2008

•  China's stocks down to 7-week low after Dow's plunge

•  Hong Kong stocks slump 4.29%

Video   

•  Asian market falls spark investor fear

•  Wall Street biggest sell-off ever over SP downgrade

•  Obama: U.S. will always be a "triple A country"

Opinion

•  Capital markets overreact to US credit downgrade

•  Dilemma over dollar reserves

News  

• Gold retreats from record on profit taking

Gold futures on the COMEX Division of the New York Mercantile Exchange on Thursday retreated from historical record, as some investors opted to book their profits following recent rallies. >>

• Gold forecast rises on France downgrade fears

Gold price climbed to a third record of over US$1,800, as rumors swirled that France may lose its top-notch AAA credit rating. >>

China's stocks down to 7-week low after Dow's plunge

G20 must face the music

On August 1, the deadlock over the US debt ceiling was broken at the last minute, after months of partisan standoff. The United States can now keep borrowing to avoid defaulting on its debts or the shutting down of government agencies. >>

ECB decides to buy eurozone bonds to curb debt crisis

The European Central Bank (ECB) said on Sunday it will actively implement its plan to buy bonds issued by eurozone governments on the secondary markets in bids to curb the debt crisis. >>