⚠️BREAKING: *ASIAN STOCKS TUMBLE ACROSS THE REGION AS FITCH CUTS U.S. RATING; JAPAN'S NIKKEI FALLS 2% 🇯🇵🇦🇺🇨🇳🇭🇰🇰🇷🇮🇩🇮🇳
Investing.com -- Most Asian stocks fell on Wednesday, with technology shares seeing a heavy dose of profit-taking after an unexpected downgrade to the U.S. sovereign rating by Fitch somewhat dented sentiment.
Traders also locked in profits across broader Asian markets after stellar gains through July, tracking a similar trend on Wall Street, which closed lower overnight.fell in after-market trade as ratings agency Fitch unexpectedly downgraded the U.S.’ sovereign rating to AA+ from AAA, citing worsening fiscal conditions and repeated political sparring over debt payments.
While most analysts said the downgrade will have a limited direct impact on financial markets, they noted the possibility of some near-term risk aversion on the news. Fitch is the second ratings agency to strip the U.S. of its AAA rating after Standards and Poor. The downgrade spurred losses in most Asian markets on Wednesday, with technology-heavy indexes coming under increased pressure.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Fitch downgrades US debt rating | CNN BusinessJUST IN: Credit rating agency Fitch has downgraded the US rating from its highest AAA rank to AA+
Read more »
Fitch downgrades US credit rating, citing mounting debt and political divisionsThe U.S. credit rating has been downgraded by Fitch Ratings, which cited an expected increase in government debt over the next three years and a “steady deterioration in standards of governance” over the past two decades.
Read more »
Fitch slashes U.S. credit ratings to AA+ from AAA, points to ‘erosion’ of governanceFitch Ratings cut its top U.S. credit rating to AA+ from AAA on Tuesday, pointing to “erosion” of governance and the nation’s expected fiscal deterioration...
Read more »
Fitch downgrades U.S. credit rating after debt ceiling crisisCredit agency Fitch Ratings downgraded the trustworthiness of the U.S. government Tuesday, saying successive standoffs over the nation’s debt ceiling and rising federal debt have cast doubt on the country's ability to meet all its payment obligations.
Read more »
Fitch downgrades U.S. after debt limit stalemateTuesday's downgrade drew an immediate rebuke from Treasury Secretary Janet Yellen.
Read more »
Fitch downgrades U.S. credit rating from top score after debt ceiling crisisThe move, from a top rating of AAA to AA+, comes two months after the debt ceiling crisis was resolved and more than a decade after the federal government’s first-ever downgrade in the wake of the financial crisis.
Read more »