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the financial rating of the united states by standard and pours. the president spoke this afternoon. it did nothing to calm the markets. in fact, they fell during his remarks. watching this, along with us, from cnbc global headquarters, sue herrera. sue, for the viewers joining us across the country in the middle of the afternoon, what is happening here? >> basically, investors on wall street have lost confidence in washington, and in the way that business is done in washington and also in the aftermath of standard & poor's, saying that the u.s., in their opinion, is let credit worth...

east, has now roiled the markets. >> shannon hobbs with cnbc joins us now with that network headquarters in new jersey with more on all of this. simon, thank you for joining us. first of all, as the president was talking today, the stock market continued tumbling, if not immediately then, but immediately after. what's up with that? >> well, i mean, we've just got waves and waves of selling that keep coming over the market. it's happening internationally and basically feeding as people suffer losses, they're forced to sell, jim. and let's not forget that we've now had 12 bad trading s...