US stock futures tumble after S&P downgrade of US

U.S. markets have opened for the first time since Standard and Poor's downgraded the nation's credit rating. The Dow Jones industrial average fell more than 250 points minutes after the opening bell on Wall Street.» E-Mail This     » Add to Del.icio.us

Governments — from sovereign nations to states and localities — are measured on their ability to manage their finances and pay back what they owe. In issuing credit ratings, agencies such as Standard & Poor's 500 index evaluate criteria such as financial management, budgetary performance, and debts and liabilities.

Ratings agency Standard and Poor's said Thursday that it had mistakenly announced to some of its clients that it had downgraded France's top "AAA" credit rating, at a time when many in the markets are speculating on just such a move."As a result of a technical error, a message was automatically disseminated today to some subscribers of S&P's Global Credit Portal suggesting that France's credit rating had been changed," S&P said in a statement.

Kirk Lindstrom submits:The Dow-gold ratio is right at its long-term, down-trending resistance level. The Dow-gold ratio is defined as the ratio of the price of the Dow Jones Industrial Average divided by the price of gold.

Frederic Ruffy submits: SentimentStocks are broadly higher late Friday. After a three-day 322-point slide, the Dow Jones Industrial Average opened with modest gains on decreasing concerns about the recent spike in crude oil prices. After rallying 8 percent in a week, crude is up 84 cents to $98.12 late Friday and 5.1 percent off the highs seen Thursday morning. Meanwhile, the day’s economic news was mixed.

Reuters - LONDON (Reuters) -U.S.