Credit rating and strange market pre-action

many people are asking about the after-effects of the s&p downgrade of the US credit. valid concern, but one wonders about the before-effects, in terms of what happened in the markets last week.

in particular, last thurs the stock market took a sharp dive with nary a noteworthy financial or political news. it was attributed to general panic reaction to uncertainty.

is it possible that this was a actually a specific panic attributed to a certainty that bad news was coming? the s&p downgrade was announced only the next day. it sure seems like some people knew.

United States loses prized AAA credit rating from S&P

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