S&P 500 falls to session low

<p>The S&amp;P 500 has extended its decline to 1.5%, or 70 points. It would be the first 1% decline in two months if it holds up in the final 30 minutes of trading.</p><p>Dip buyers have been a near-constant in the market this summer but the debt downgrade along with uncertainty about the Fed ahead of Friday's jobs report led many to take some off the table today.</p><p>I think the downgrade does matter but it won't really matter until the economy starts to stumble and there's a need for fiscal help.</p>

This article was written by Adam Button at www.forexlive.com.