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The 72-Hour Report: How New York is Navigating Uncharted Territories After S&P's U.S. Debt Downgrade

The 72-Hour Report series will attempt to provide a chronicle of the impact of the U.S. credit rating downgrade by S&P in New York, the most important financial center of the world. Golden Networking's Public Finance Leaders Forum 2011, "Navigating Uncharted Territories After S&P's U.S. Debt Downgrade from its Gilt-Edged AAA Credit Rating" (www.PublicFinanceLeadersForum.com), September 9, New York City, will provide attendees with the first analysis of the consequences of this unprecedented step by one of the leading rating agencies.

 

As investors fretted over the worries among European banks as well as Federal Reserve’s gloomy outlook of the economy, U.S. stocks slumped again, erasing Tuesday’s stock gain. The Dow Jones Industrial Average shed 374 points, or 3.3%, to 10870, while the Standard & Poor's 500-stock index slid 36 points, or 3.1%, to 1136 and the Nasdaq Composite lost 75 points, or 3%, to 2408. This Monday, after the U.S. credit rating was downgraded by S&P, U.S. shares tumbled in a big fall from the peak. The S&P 500 closed down 6.6% on Monday, its biggest one-day fall since December 2008.

 

The Dow Jones Industrial Average broke 11,000 and fell to 10721.60. The market volatility index, VIX, reached 48, which accurately showed the market turmoil. On Tuesday the stock market performed very well and the DIJA gained back 429.92 points.

 

It is expected that this slide will reverse in a few weeks despite the Euro Zone fears plunging stocks sharply on Wednesday. The market collapse this time is not a repeat of the 2008 financial crisis. In 2011, the financial world can’t go hat in hand to the political capitals, hoping for a bailout. The Federal Reserve also announced they will keep interest rates low. Market recovery will depend on investors’ confidence and inner strength. Plus, the government has already created plans to decrease spending and spur economic growth.

 

Public Finance Leaders Forum 2011 is produced by Golden Networking (www.goldennetworking.net), the premier networking community for business executives, entrepreneurs and investors. Upcoming Golden Networking's Forums and Business Receptions include:

 

             High-Frequency Trading Happy Hour New York (www.hfthappyhour.com), August 9th, New York City

 

             High-Frequency Trading Happy Hour Chicago (hfthappyhourchicago.eventbrite.com), August 23rd, Chicago

 

             High-Frequency Trading Happy Hour Hong Kong (hfthappyhourhongkong.eventbrite.com), August 25th, Hong Kong

 

             High-Frequency Trading Happy Hour Singapore (hfthappyhoursingapore.eventbrite.com), August 25th, Singapore

 

             Public Finance Leaders Forum 2011 New York, "Navigating Uncharted Territories After S&P's U.S. Debt Downgrade from its Gilt-Edged AAA Credit Rating" (www.PublicFinanceLeadersForum.com), September 9, New York

 

             High-Frequency Trading Leaders Forum 2011 Hong Kong , "How Speed Traders Leverage Cutting-Edge Strategies in the Post-Flash Crash World" (hftleadersforumhongkong.eventbrite.com), September, 19-21, Hong Kong

 

             High-Frequency Trading Leaders Forum 2011 Chicago, "How Speed Traders Leverage Cutting-Edge Strategies in the Post-Flash Crash World" (hftleadersforumchicago.eventbrite.com), October 3-5, Chicago

 

             China Leaders Forum 2011 New York, "How American Companies Can Plug into the Chinese Rocket-Propelled Economy?" (www.ChinaLeadersForum.com), October 7, New York

 

             High-Frequency Trading Leaders Forum 2011 Sao Paulo, "How Speed Traders Leverage Cutting-Edge Strategies in the Post-Flash Crash World" (hftleadersforumsaopaulo.eventbrite.com), October 24-26, Sao Paulo, Brazil

 

             High-Frequency Trading Leaders Forum 2011 Singapore, "How Speed Traders Leverage Cutting-Edge Strategies in the Post-Flash Crash World" (hftleadersforumsingapore.eventbrite.com), November 13-15, Singapore

 

Golden Networking has compiled the insights of top experts and industry practitioners and produced DVD Video Packages for its Leaders and Experts Forums, including:

 

             High-Frequency Trading Experts Workshop, "Practical Implementation of High-Frequency Trading Strategies", www.HFTExpertsWorkshop.com

 

             2nd China Leaders Forum DVD Video Package, "Is the Chinese Dragon Poised for Global Dominance or Economic Implosion?", www.ChinaLeadersForum.com

 

             Distressed Investing Experts Forum 2010 DVD Video Package, "Analyzing and Valuing Distressed Companies, Securities and Real Estate", www.DistressedInvestingExpertsForum.com

 

             Derivatives Leaders Forum 2010 DVD Video Package, "Strategies for Increasing Profits under an Evolving Regulatory Framework", www.DerivativesLeadersForum.com

 

             High-Frequency Trading Leaders Forum 2010 DVD Video Package, "Innovating and Profiting from High-Frequency Trading in 2010 and Beyond", www.HFTLeadersForum.com

 

             Hedge Funds Leaders Forum 2010 DVD Video Package, "Generating Alpha in Challenging Times", www.HedgeFundsLeadersForum.com

 

             High-Frequency Trading Experts Forum 2010 DVD Video Package, "Starting and Running a High-Frequency Trading Operation", www.HFTExpertsForum.com

 

             Distressed Investing Leaders Forum 2010 DVD Video Package, "Extraordinary Opportunities Investors Cannot Afford to Pass", www.DistressedInvestingLeadersForum.com

 

             China Leaders Forum 2009 DVD Video Package, "Addressing the Challenges Posed by the Present Wave of Chinese Globalization", www.ChinaLeadersForum.com

 

             Distressed Investing Leaders Forum 2009 DVD Video Package, "The Most Comprehensive Guide for Any Investor in Distressed Assets", www.DistressedInvestingLeadersForum.com

 

Panelists, speakers and sponsors are invited to contact Golden Networking by sending an email to info@goldennetworking.net. Golden Networking has been frequently featured in the press, including recent articles in The Wall Street Journal, "Happy Hour for High-Frequency Trading", The New York Times, "Golden Networking Helps Job Seekers Make Overseas Connections", Los Angeles Times, "Speed-addicted traders dominate today's stock market", Reuters, "Revamp looms as trading experts huddle at SEC" and Columbia Business School's Hermes Alumni Magazine, "10 Under 10".