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US President Barack Obama meets his top economy team including the Federal Reserve Board Chairman Ben Bernanke and Treasury Secretary Timothy Geithner to discuss with them the fallout of the downgrading of America's credit rating from AAA to AA+.

The Dow Jones industrial average surged more than 429 points, its tenth-highest point gain in history and the biggest since March 2009.
The US stock markets closed on a flat note on Friday, after it witnessed wild swings, trading in a range of 400 points during the day.