AP - Global stocks took another pounding Monday as worries over the downgrade of U.S. debt outweighed relief at the European Central Bank's purchase of Italian and Spanish bonds to help the two countries avoid devastating defaults.

AFP - The London stock market dived by more than three percent on Monday, amid heavy falls in Frankfurt, Paris and New York, as investors fretted over the US ratings downgrade and the eurozone debt crisis.

AFP - Asian stocks tumbled on Monday after last week's historic downgrade of the United States' credit rating, which compounded concerns over the world's biggest economy as well as the global outlook.

AFP - Stocks in London fell sharply on opening Monday after heavy falls in Asia and efforts to bolster global economic stability in the face of US and European debt crises.