| The first week of August, 2011 saw the world financial markets tumbling like a house of cards, the trigger being the US debt downgrade by credit ratings agency Standard & Poor's. Financial markets continued to demonstrate large volatility with equities, risky assets and commodities (except for gold) tumbling and bonds rallying.
For many markets, August’s savage sell-off has been the worst since the October following Lehman Brothers’ implosion and investors diversified into havens such as high credit government bonds and gold..............................................Full Article: Source
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