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In finance and investing, Black Monday 2011 refers to August 8, 2011, when US and global stock markets crashed [1] following the Friday night credit rating downgrade by Standard and Poor's of the United States sovereign debt from AAA, or "risk free", to AA+. [2] It was the first time in history the United States was downgraded. [3]
On August 4, the price of oil dropped 6% to its lowest level in 6 months. On August 5, the price had dropped $8.82 in a week to $86.88 per barrel on the New York Mercantile Exchange. The same pessimistic economic news that caused stock prices to fall also decreased expected energy demand, and experts predicted a gas price drop of 35 cents per ...
Economists had expected import prices, which exclude tariffs, would fall 0.2%. In the 12 months through August, import prices increased 0.8% after advancing 1.7% in July.
The Consumer Price Index (CPI) rose 0.6% over last month and 3.7% over the prior year in August, an acceleration from July's 0.2% monthly increase and 3.2% annual gain in prices.
Refinance rates for Thursday, August 8, 2024. 30-year fixed rate — 6.56%. ... Accessed August 5, 2024. Consumer Price Index Summary, U.S. Bureau of Labor and Statistics. Accessed July 12, 2024.
The August 2011 stock markets fall was the sharp drop in stock prices in August 2011 in stock exchanges across the United States, Middle East, Europe and Asia. This was due to fears of contagion of the European sovereign debt crisis to Spain and Italy, as well as concerns over France's current AAA rating, [1] concerns over the slow economic growth of the United States and its credit rating ...
Falling gasoline prices, along with the rest of the energy complex, contributed to a decelerating annual rate of inflation in August.. The gasoline index declined 0.6% last month, compared to a ...
Prices for U.S. consumers grew 3.7% in August compared to a year ago as gasoline prices spiked, according to the Bureau of Labor Statistics. Inflation was about equal to expert projections, and ...