With the S&P’s big surge today, the market is now back to where it was before the US was hit by THE DOWNGRADE two Friday’s ago.
Perhaps more interesting, though, is that interest rates are lower than they were at the same time.
So in the early going, the downgrade really hasn’t had much of an impact on anything.
(One note, however, is that some of the selling in the week before the downgrade may have been due to the leak of the downgrade. At least some are theorizing that, so you might argue that to go back to pre-downgrade levels stocks have to go much higher).
(Thanks to Jerry Khachoyan for the observation).