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US markets may avoid major shock

Washington – Despite Friday’s downgrade of the US government’s top-notch credit rating, the first in history, US markets may avoid a major shock, as the rating decline came as no surprise and may already be priced into markets, some analysts said on Sunday.

However, the downgrade came at a time when the United States is still slogging its way through a sluggish recovery from the worst recession in decades. While Friday’s jobs report was positive, markets will be trading mainly on the news of the downgrade, which was reported after the markets closed on Friday, the analysts said. [Read more…]