MARQUETTE -- On Monday, investors pulled out of stocks and invested in metals due to the uncertainty of what the downgraded credit rating will mean for the U.S. economy.
The Dow had lost more than 600 points during afternoon trading, leaving many investors looking to metals as the price of gold soared up over $1,700 per ounce.
However, Treasury interest rates have dropped, confirming the long-term effects of the downgrade remain uncertain.
"If you were a business and your credit rating had just been downgraded, theoretically, you would have to raise your rates in order to attract people to buy your bonds," said Financial Consultant James Studinger. "Today the government's rates are lower, and so I find that very interesting. I'm not exactly sure what that means, but I think it's a little bit early to really know how this is going to unfold long-term."
Financial consultants say to pay attention to your stocks and why you have them; also try to reduce your debt and save as much as possible.
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