Asian stock markets sink after US credit downgrade (AP) – 133th Edition

Rudolf Oultz watches the display board at the Australia Stock Exchange in Sydney, Monday, Aug. 8, 2011. Australian and New Zealand markets have opened lower in reaction to ratings agency Standard and Poor's downgrading of the United States government credit rating from AAA to AA+. (AP Photo/Rick Rycroft)AP – Asian stocks nose-dived Monday as the first-ever downgrade of the U.S. government’s credit rating jolted the global financial system, reinforcing fears that the world economy is weakening.

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