Standard &amp; Poor&rsquo;s reduction of the US credit rating may make it harder for other top-rated countries to keep their AAA ranking, according to Mohamed A El- Erian of Pacific Investment Management Co.

Credit rating cut casts doubt on AAA nations

Business Standard

Billionaire Warren Buffett said Standard &amp; Poor&rsquo;s (S&amp;P) erred when it lowered the US credit rating and reiterated his view that the economy will avoid its second recession in three years.

S&P erred in cutting US rating: Buffett

The US dollar may weaken and treasury yields rise when Asian markets reopen on Monday, though any selling in response to ratings agency S&amp;P&rsquo;s downgrade of the United States is likely to be tempered by the escalating crisis in the euro zone.

Dollar to drop on S&P move safe-haven demand seen

Reuters 

Asian states are likely to retain their US treasury holdings for now and European governments expressed confidence in the world&rsquo;s largest economy after Standard &amp; Poor&rsquo;s (S&amp;P) cut the US&rsquo;s sovereign credit rating to AA+.

Asia, Europe to 'stick it out' with treasuries

Markets may extend losses in opening trades following selling pressure Across Asia after S&amp;P downgraded United States credit rating to AA+ from AAA, first time in 70 years.

Pre-market: Sell-off to continue following US rating cut

Hong Kong shares opened 2.57% lower today, in line with regional markets, after Standard &amp; Poor's historic downgrade of the US credit rating last week.

Hong Kong shares open 2.57% lower

Shares of IT companies, which earn a major chunk of their revenue from the US and the Europe, fell sharply on the bourses today on concerns over the US losing its top-notch credit rating due to mounting debts.

IT stocks fall sharply on bourses on US crisis

Press Trust of India

&ldquo;Net sales of the company stood at Rs 146 crore for the quarter ended June 30, 2011. It was Rs 122 crore for the quarter ended May 31, 2010,&quot; the pharmaceutical company said in a filing to the Bombay Stock Exchange (BSE).

Wyeth rallies 4% post June quarter nos

Areva T&amp;D is trading lower by 2.2% at Rs 224 on the Bombay Stock Exchange (BSE) post announcement of its second quarter results.

Areva T&D slides on decline in Q2 net

Blue-chips like Infosys, Reliance Industries (RIL) and TCS went into a tailspin on the bourses today as investors abandoned their holdings in companies that rely heavily on exports after the US lost its top-notch credit rating.

Blue-chips in freefall as uncertainty takes toll

Deven Sharma, an Indian, was at the helm of affairs surrounding the historic downgrade of the US' creditworthiness, as ratings agency S&amp;P's unprecedented move was taken under his leadership.

India's Deven Sharma led S&P's US downgrade decision

MOIL is down over 4% at Rs 318, the lowest since its December listing, after reporting 40% y-o-y drop in net profit at Rs 109 crore for the first quarter ended June 30, 2011. The state-owned company had reported a net profit of Rs 168 crore in the corresponding quarter of the previous fiscal. Net sales too declined 40% at Rs 210 crore on a y-o-y basis.

MOIL at new low on disappointing Q1 earnings

Educomp Solutions has slipped 7.2% to Rs 280 on the Bombay Stock Exchange (BSE) after the company reported its first quarter results.

Educomp Solutions slides on decline in net

Describing the slump in the market early this morning as a knee-jerk reaction to the negative global sentiment, experts today said the markets would soon bounce back and lots of value buying will happen at lower levels.

Slump is knee-jerk reaction, markets to recover: experts

Terming the slump in the stock market this morning as a &quot;panic reaction&quot;, Chief Economic Advisor Kaushik Basu today said India's growth story remained intact and there was no need of any policy intervention.

Stock market plunge is panic reaction: Kaushik Basu

Recession, in lay-man terms, is the time when there is economic decline, leading to a slowdown in trade and economic activity. This is generally identified by a fall in Gross Domstic Product (GDP) in two or more consecutive quarters.

Primer: Recession and impact on India

Foreign institutional investors (FIIs) were net sellers of Rs 1,385.78 crore (provisional) today, according to data released by BSE.

FIIs net sell Rs 1,386cr, DIIs net buy Rs 1,320cr

Jeffrey M Christian, founder and managing direvtor of the New York-based CPM Group, is considered an authority on the markets for precious metals. He spoke to Dilip Kumar Jha on the outlook for gold and the dollar.

Q&A: Jeffrey Christian, Founder & MD, CPM Group

Market players see more pain left as Sensex takes global cue &amp; sinks below 17k on a volatile day.

Future tense despite FM's balm

State-run Coal India and drug-maker Sun Pharma, which entered the coveted league of 30 Sensex companies on Monday, tumbled on the bourses amid the overall bearish broader market trend following the US credit ratings downgrade.

CIL, Sun Pharma register losses in BSE debut trade

With markets losing four per cent in the past two days and double that in a week, money managers and analysts are advising investors to stick to large-caps, avoid leveraged plays and companies with higher dependence on exports or exposure to developed economies like the US or the euro zone. Experts believe the markets may witness volatility in the short term, as investors turn risk-averse and money gets pulled out from emerging market equities.

Market verdict: Stick to consumption plays

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