Wall Street rallied on Thursday, boosted by Apple and lackluster economic data that further dimmed the prospects of an interest rate hike in the near term. Retail sales and industrial activity fell more than expected in August. The data follows reports showing a slowdown in job growth and a slump in manufacturing activity for the month.
The British pound fell to a 31-year low against the U.S. dollar today on anxiety over the aftermath of Britain's decision to quit the European Union, with analysts anticipating an even steeper drop in coming months, while the euro also dipped.
Ratings agency Standard & Poor's stripped Britain of its last remaining top-notch credit rating today, slashing it by two notches from AAA and warning more downgrades could follow after Britons voted to leave the European Union last week.