Asian markets open lower in first day of trading since U.S. downgrade

[RandySF]

Markets all across Asia sank Monday, their first day of trading after the United States lost its top-notch credit rating, providing the first indication of how investors are likely to react to the country’s first-ever credit downgrade.

Hong Kong’s Hang Seng Index took the biggest hit, dropping 4.3 percent shortly after open. Singapore’s Straits Times Index traded down about 1.8 percent on open, while Shanghai’s Stock Exchange Composite Index was down just a modest 0.01 percent on open.

Markets in Japan, Australia and South Korea were each down more than 1 percent in early trading Monday.

The losses in provide the first indication that already-skittish markets may slide lower as a result of the downgrade, which occurred Friday when ratings agency Standard & Poor’s lowered its U.S. credit rating one notch, from the risk-less AAA to AA+.

http://www.washingtonpost.com/business/economy/all-eyes-on-asian-markets-as-trading-begins-post-downgrade/2011/08/07/gIQAZboH1I_story.html

[Ruby the Liberal]

1. Irresponsible reporting.

AAA does not = "risk-less", it means comparatively "less risk".

D- for mindless sensationalism, WaPo.