Stocks Slide After Debt Downgrade Even As Experts Dismiss 'Little' Impact On Markets

on some of the U.S. federal government’s long-term debt from AAA to AA+, despite an apparent lack of concern about the implications among several economists and strategists.The Dow Jones Industrial Average dropped 220 points, or 0.6%, by 10:20 a.m. ET, while the S&P 500 and tech-heavy Nasdaq fell 1% and 1.7%, respectively.

Goldman Sachs economist Alec Phillips noted the Fitch change was based on “no new fiscal information” and pointed to the limited fallout from S&P rating agency’s 2011

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Global markets slide after Fitch downgrades US debt | CNN BusinessGlobal stock markets fell Wednesday after ratings agency Fitch downgraded its US credit rating from the highest level, citing “a steady deterioration in standards of governance” and the American government’s growing debt burden.
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Fitch downgrades US debt on debt ceiling drama and Jan. 6 insurrection | CNN BusinessFitch Ratings downgraded its US debt rating on Tuesday from the highest AAA rating to AA+, citing “a steady deterioration in standards of governance.”
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