* Francesco Guerrera: This isn’t like 2008. Larry Kudlow agrees.
* Rolfe Winkler: Playing chicken with LinkedIn valuations
* S&P: Maybe the market reacted to our downgrade. Maybe not. Maybe it reacted to the Yanks losing two of three to the Red Sox. Impossible to know.
* Morning Call: U.S. futures signal more sharp losses, London falls early, European shares plummet and the Nikkei loses 1.7%.
* Bhide & Phelps: The root of all sovereign debt crises
* Joe Weisenthal: Is Obama scared of the bond vigilantes?
* Douglas McIntyre: The Fed still has one bullet in its chamber
* BlackRock: We’ll use gold and bond profits to buy distressed equities
* Peter Henning: Focus on insider trading gets more intense
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* Sarah Perez: How your social data will power Wal-Mart’s e-commerce revolution
* U.S. debt deal kills off prospects of renewable energy supports. But tax breaks for big oil remain…
* Tweet of the Day: @jeff Just maybe? The VC industry is going to wake up and go back to value investing – not FOMO throwing cash at everything, no matter the price.
* Tweet of the Day II: @dougchia: Some of the criticism of S&P downgrade of US debt is similar to criticism you hear in #corpgov circles about ISS.