Australia, NZ fall on US debt rating downgrade
Saturday, August 6, 2011
SYDNEY (AP) -- Australian and New Zealand markets have opened lower in reaction to ratings agency Standard and Poor's downgrading of the United States government debt from AAA to AA+.
The Australian and New Zealand bourses were among the first to open Monday following the historic news.
Australia's benchmark S&P/ASX-200 index lost almost 2 percent in early trading on Monday.
Key New Zealand indexes showed a fall of more than 3 percent.