Monday, 8 Aug 2011 - global stock markets hit badly after ratings agency S&P (Standard & Poor's) downgraded the United States credit rating, the first in history.

Tens of billions of dollars of value was wiped off the value of markets from Sydney to Hong Kong and Tokyo. Singapore's market was among the worst hit, nosediving by 3.7%. The Straits Times Index (STI) tumbled by 110.78 points to close at 2,884, a 13-month low. At one point, it had crashed by almost 5 per cent.

Panic investors are charging for the exit amid growing alarm the US is sliding back into recession although G-7 group of major industrial powers vowing to act decisively.

What does it mean to you, as a retail investor?

To me, on Monday, 8 Aug 2011, I view it as a buying opportunity and I load up more shares to my current holdings - ......