S&P

FBR Capital Markets expects the S&P's downgrade of the United States' debt will actually have a more negative impact on the commercial aerospace names as compared with its defense names.

It is not clear that Moody's or Fitch will follow suit and cut the U.S. credit rating.

U.S. stock index futures point to a sharply lower opening on Monday as the nation lost its risk-free reputation.

Moody's says a future downgrade of the U.S. credit rating from AAA is possible. Also, global markets reacted harshly overnight to S&P's U.S. credit rating downgrade announced late Friday.

U.S. gold futures and cash gold struck records in early Asian trade on Monday after the United States lost its top-tier AAA credit rating from Standard & Poor's in an unprecedented blow to the world's largest economy.

Bullion roared to record highs above $1,700 an ounce on Monday as an unprecedented downgrade to the U.S. credit rating sent investors scrambling out of riskier assets, hammering equity markets and the dollar.

All the three rating agencies -- Moody's, Fitch and S&P - have warned the current Administration that if things weren't done to curtail the tide of out-of-control spending and poor fiscal and monetary policies they would be forced to review the credit rating of the U.S. for possible downgrade.

The government and the RBI will step in to contain the impact of an uncertain global economic situation, if needed, Chief Economic Adviser to Finance Ministry Kaushik Basu said on Monday.

Bullion roared to a record on Monday above $1,700 an ounce as an unprecedented downgrade to the U.S. credit rating sent investors scrambling out of riskier assets, hammering equity markets and the dollar.

India is in a better position than other countries to manage the impact of an uncertain global economic situation following the developments in the United States and the euro zone, the finance minister said on Monday.

It wasn't long after Standard & Poor's lowered the United States' credit rating from AAA to AA+, for the blame game to begin.

The Tea Party arrived in Washington after mid-term elections with talk of change in Washington. So far, Tea Party leaders have only been a distraction. To create change in Washington, they need to bring forth a plan and build consensus.

The downgrade (while perhaps not a total surprise) arrived somewhat unexpectedly ? and during a period when markets are already in an extremely volatile and fragile state.

The United States lost its top-tier AAA credit rating from Standard & Poor's on Friday, a move that will affect the country's borrowing costs and investor opinion of U.S. assets. Here is a Q+A on what the downgrade means for investors, consumers and to the country.

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

The S&P cut in the U.S. long-term credit rating to AA-plus is an unprecedented blow. It called the outlook "negative," signaling another downgrade is possible in the next 12 to 18 months. The U.S. dollar may weaken and Treasury yields rise when Asian markets reopen on Monday.

Rating agency standard & Poor's has staunchly defended the decision to downgrade the creditworthiness of the U.S. government and warned that further action was possible. "The debacle over the debt ceiling continued until almost the midnight hour," S&P's Sovereign Ratings Committee Chairman John Chambers said.

S&P?s stunning and controversial downgrade Friday in part reflected the firm?s assumptions about the U.S. political system?s ability to solve its problems. Others hold a more optimistic view, as Winston Churchill did. Churchill said, ?In the end, you can count on America to do the right thing - after she?s exhausted all other possibilities.?

China holds a large amount of U.S. debt. Xinhua, the official press agency of China, issued a commentary on Aug. 6 titled After historic downgrade, U.S. must address its chronic debt problems. The commentary stated that the days when debt-ridden Uncle Sam could leisurely squander unlimited overseas borrowing seemed to be numbered because S&P slashed the country's AAA rating for the first time.

?We have total confidence in the solidity of the American economy,? Baroin told French radio.

While S&P?s downgrade of the U.S. Government?s credit rating is controversial, most agree that the U.S. fiscal condition is serious. And while both Democrats and Republicans increased the budget deficit, three major policy errors by President George W. Bush last decade substantially worsened the U.S.?s fiscal condition, and the nation has been trying to recover ever since.