On the heels of the U.S. credit downgrade late last week…stocks opened sharply lower today and continued falling all day. With more on today’s market sell-off WUFT’s own Trent Kelly joined us from the CNBC Global Headquarters in New York where he has been interning all summer. Trent tells us what the mood is like there.
Standard and Poor’s lowered credit ratings on debt issued by two mortgage finance companies today. Fannie Mae and Freddie Mac were lowered one step from triple-A to double-A-plus, a reflection of their “direct reliance on the U.S. government” according to S&P. Florida’s 89.1, WUFT-FM’s Steven Gallo spoke with Fishkind and Associates Preisdent Dr. Hank Fishkind about the recent downgrades by S&P and its impact on Floridians.
University of Florida Economist Professor Dave Denslow also weighed in on the recent downgrades and the state of the U.S. economy. Denslow spoke with WUFT-FM’s Steven Gallo.