152-US opens sharply lower in fresh sell-off

US opens sharply lower in fresh sell-off

Traders are flooding into gold while shedding stocks and industrial commodities as global markets gyrate following the downgrading of the US credit rating.
Intervention from the European Central Bank in the eurozone bond complex helped take some of the sting out of the broader sell-off as European markets opened.

But that boost to sentiment has proved shortlived – with the euro sliding sharply – while concerns over the longer-term implications of the US downgrade, and resurgent fears about the health of the global economy sees Monday’s dealing screen’s spit silent claret.


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