Wall Street Reacts to Fitch‘s US Rating Cut On August 2, 2023, Wall Street ended the day on a downbeat note as investors took profits and reacted to Fitch Ratings’ decision to downgrade the United States’ credit rating from AAA to AA+. The S&P 500 and Nasdaq Composite, both major indexes, recorded their biggest daily […]
Fitch Explains Controversial Decision to Downgrade US Credit Rating In a recent interview with CNN, Richard Francis, the lead analyst on US sovereign ratings at Fitch Ratings, defended the agency’s decision to downgrade the US credit rating. Francis pointed to the nation’s growing mountain of debt as evidence for the downgrade and expressed concern about […]
