People walk past a burned van Sunday, a day after riots in the Tottenham area of London. A peaceful protest against the police killing of a 29-year-old man degenerated into a rampage.
Credit Dan Kitwood / Getty Images
As we said earlier, we'll be watching the markets as they react to the United States' rating downgrade and the greater worries about the global economy. But, here are some other stories making headlines:
-- London Riots: For the first time in decades, London witnessed intense riots this past weekend. The riots started after police shot and killed Mark Duggan a 29-year-old father of four. The AP reports:
Wall Street was poised Monday for a day of potential turmoil after global stocks slid in the wake of a first-ever downgrade of U.S. credit and major intervention by the European Central Bank to help stave off defaults in Spain and Italy.
European markets lost early momentum and moved sharply lower amid mounting concerns over eurozone debt woes and the pending opening of U.S. markets, when traders will have their first chance to respond to Standard and Poor's decision Friday to lower its triple A rating for the U.S.
Kingdom Holding Company plans to finish the world's tallest building in Jiddah, Saudi Arabia. It would dwarf the Empire State Building and the current record holder which is in Dubai. The new building would climb 3,200 feet into the air but the developer did not say exactly when construction starts.