More doom and gloom. Fitch Ratings has put the US government’s AAA credit rating on ‘rating watch negative’ Tuesday as negotiations on the U.S. debt ceiling fail to come up with a solution. After the announcement the S&P 500, Dow Jones, and Nasdaq all saw significant drops. In 2011, during the last major debt ceiling fight, ratings agency S&P took the major step of being the first to downgrade the US rating.
Warning Carlo Allegri/Reuters