August 2011 Stock Markets Fall

Please note that the content of this book primarily consists of articles available from Wikipedia or other free sources online. The August 2011 stock markets fall is the sharp drop in stock prices in August 2011 in stock exchanges across the United States, Middle East, Europe and Asia. This was due to fears of contagion of the European sovereign debt crisis to Spain and Italy, as well as concerns over France's current AAA rating, and concerns over the slow economic growth of the United States. Keynesian economists, such as Paul Krugman have pointed to austerity and a lack of stimulus measures within Europe and the United States being largely responsible for the rise in unemployment and the fall in growth in 2011 which exacerbated the debt crisis in Europe, and lead to United States' S&P credit rating being downgraded to AA+.