Stocks sink as US credit downgrade roils markets

  • 📰 CNN
  • ⏱ Reading Time:
  • 21 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 95%

Ireland News News

Ireland Ireland Latest News,Ireland Ireland Headlines

US stocks post a sharp sell-off following Fitch's downgrade of US debt as the Nasdaq notches its worst session in five months

Fitch's downgrade is unlikely to hurt Treasuries' status as a safe asset. Here's whyWill Fitch's downgrade mar the reputation of US Treasuries as the ultimate safe asset?"Any credit rating movement would be more of an embarrassment to the US than an impact to investors,” said Patrick Klein, portfolio manager at Franklin Templeton Fixed Income.

“The US government issues something the rest of the world desperately wishes it had,” Josh Lipsky, senior director of the Atlantic Council’s GeoEconomics Center and former adviser at the International Monetary Fund, wrote in May. Other safe assets exist but pale in comparison to Treasuries. Gold, for example, is a haven prized for its price stability even when the rest of the market experiences volatility.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 4. in İE
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Ireland Ireland Latest News, Ireland Ireland 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+
Source: CNN - 🏆 4. / 95 Read more »

Stocks fall, Treasuries gain after Fitch downgrades US rating By Reuters⚠️BREAKING: *GLOBAL STOCKS FALL, TREASURIES GAIN AFTER FITCH DOWNGRADES U.S. DEBT RATING
Source: Investingcom - 🏆 450. / 53 Read more »