Breaking down the downgrade: distilling the message with visualizations and context.

Markets, both domestic and abroad, spent no time to react on the news that Standard & Poor’s, one of the three major companies that rate the solvency of nations, had downgraded the United States credit rating from AAA to AA+.

S&P released its report on the downgrade on Friday, Aug. 6, after American markets were closed. Overseas markets were the first to move, with Japan’s Nikkei index dropping 2.2 percent. A sell-off sent China’s mainland Shanghai market down 2.2 percent. The country’s Hang Seng index flirted with a 7 percent drop before settling down 4.5 percent for the day.

When it came time for America’s markets to open the following Monday, the Dow lost several hundred points in the first hour of trading, and ended down 512 points 4.3 percent. It was the biggest one-day drop since Dec. 1, 2008, the Wall Street Journal reported. It’s among the top 10 biggest one-day DIJA declines ever, the Journal wrote. Crude oil prices also fell amidst concerns about lower demand.

But what does the S&P report actually say? How can we distill and best represent it? The following word cloud identifies dominant words in the document, with the size of a word relating to its presence in the document.