Veteran investor Jim Rogers said he expects the US to lose its AAA-credit rating following last week's move by Standard & Poor's to downgrade its outlook for the country to negative.
Legg Mason's US equity veteran Bill Miller said US large caps have become "an empty stadium" as investors flock to the "overvalued" commodities sector.
Tim Geithner, the US Treasury secretary, shrugged off warnings from a leading ratings agency about the US public finances as he sought to reassure Wall Street he world's largest economy would be able to maintain its highly-prized AAA rating.
Investors have said it is unlikely a full-blown downgrade of the US will take place in the next few years following yesterday's move by S&P.
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Goldman Sachs will be referred to the US Department of Justice for allegedly making "misleading and inaccurate" comments to Congress over its role in the financial crisis.
J.P. Morgan Chase & Co. has reported quarterly profit rose 67%, but revenue at the US bank remains under pressure amid sluggish loan growth and mounting mortgage costs.