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NEW YORK, Apr 18 (UPI) -- U.S. markets tumbled sharply Monday after assign judgement agency Standard & Poor's said the federal government needs to address its budget deficits.

The judgement service technically mitt the U.S. judgement at AAA status but shifted its outlook from stable to negative, which indicates its current judgement is at risk.

"We believe there is significant venture that congressional negotiations could result in no commendation on a medium-term fiscal strategy until after the fall 2012 congressional and statesmanly elections," The New York Times quoted Standard & Poor's as saying.

"We see the line to commendation as hard because the gap between the parties remains wide."

By near of trading, the Dow designer industrial average forfeited 140.24 points, 1.14 percent, to 12,201.59. The S&P 500 finger forfeited 14.54 points, 1.1 percent, to 1,305.14. The Nasdaq composite finger forfeited 1.06 percent, 29.27, to 2,735.38.

On the New York Stock Exchange, 577 stocks modern and 2,445 declined on a intensity of 3.9 billion shares traded.

The 10-year treasury state chromatic 10/32 to yield 3.378 percent.

The euro lapse to $1.4228 from Friday's $1.4427. Against the yen, the dollar lapse to 82.67 yearning from Friday's 83.08 yen.

In Tokyo, the Nikkei 225 finger forfeited 0.36 percent, 34.87, to 9,556.65.

In London, the FTSE 100 finger drop 2.1 percent, 125.92, to 5,870.08.