Mark Lasseigne Talks About Stock Market Crisis
KPEL's Jeremy Lawrence sits down with Mark Lasseigne to talk about a tumultous past few days on Wall Street and how it affects you.
Mark also fills you in on a bad day on Wall Street.
-Investors' flight from risk was on full display as rating agency Standard &Poor’s, not only lowered the United States credit rating for AAA to AA+, but today downgraded entities such as Fannie Mae and Freddie Mac, and lowered outlooks for companies including Warren Buffett's Berkshire Hathaway.
The Dow Jones Industrial Average plummeted 635 points to 10,810.
Broader markets also falling sharply. The Nasdaq Composite lost 175 points while the S&P 500 down 80.
Despite S&P’s downgrading of the US, investors piled into Treasury.
Gold soared above $1,720 an ounce.
Crude oil fell to $81.34/ barrel.