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barry. the market has already priced in the s & p downgrade. First off, s & p said this was going to happen back in april. second, the market already tanked...my guess is the street found out thursday, hence the selloff.
the s & p news is overhyped by a bored media. the agency has little power over interest rates, it doesnt even have much credibility. Stocks will open lower in the morning, then they will rally. The worst of the selling is done.
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