Pimco says sell-off driven by fears US could lose AAA

• CIO, Bill Gross, said market fears that US is at risk of losing its AAA credit rating is sending the US dollar, stocks and bonds under severe selling pressure today.

"going the way of the U.K. -- losing AAA rating which affects all financial assets and the dollar."- Bill Gross (CIO PIMCO)

• S&P lowered its outlook on Britain to “negative” from “stable” threatening the nation’s top AAA rating as its debt approaches 100% of UK’s GDP.

Source: Reuters