Stocks have taken another hit today as we learned on Friday that the S&P Rating Service planned to downgrade the credit ratings of Fannie Mae, Freddie Mac, and any other debt that is backed by the US Government.
The US backed debt was downgraded from AAA to AA+.
This has caused the Stock Market to continue to fall. As I’m writing this the down is down almost 470 points and this puts us under the 11,000 mark. Let’s hope the holes are plugged before another Wall Street Crash.
