CHICAGO -- The opening morning of focus11, LPL Financial's national conference, got off to a rocky start Monday as the market took an immediate downturn with news of the Standard and Poor’s downgrade of the U.S. debt rating. LPL’s regular research morning call was scheduled onsite, which was perfect, as the advisors got to hear firsthand what LPL’s take was.

The Dow Jones industrial average would lose more than 600 points, or 6% of its total value, by day's end while the Nasdaq and S&P 500 shed 7%, respectively.

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