August 8, 2011 / 3:34 PM / in 6 years

Obama statement delayed to 1:30 pm EDT

WASHINGTON (Reuters) - The White House said on Monday that President Barack Obama’s statement to reporters about the economy would be delayed by half an hour to 1:30 p.m. EDT.

U.S. stocks tumbled after rating agency Standard & Poor’s cut the country’s top-tier AAA credit rating on Friday. Obama was expected to address that in his remarks.

Reporting by Jeff Mason

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