2011 stock markets fall
This was the rapid, steep fall in stock prices which occurred in August 2011 in stock exchanges across the US, Middle East, Europe, and Asia.
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It was primarily due to fears of contagion of the European sovereign debt crisis to Spain and Italy, as well as a focus on France’s AAA rating. Standard & Poor’s downgraded America’s credit rating for the first time, and Moody’s also warned of a potential downgrade. Extreme volatility of stock market indexes on the NYSE lasted the rest of the year.