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Stock market news today: Indexes fall as Fitch downgrades US debt

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Stocks fall as Fitch's downgrade of US debt rating rattles confidence

In dropping its long-term rating for the US from AAA to AA+, the ratings agency pointed to the US's rising debts and complicated outlook for managing it amid political feuding in the capitol.

11th-hour deal to avoid a government default"There has been a steady deterioration in standards of governance over the last 20 years, including on fiscal and debt matters, notwithstanding the June bipartisan agreement to suspend the debt limit until January 2025," Fitch said in a statement.

 

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