US stocks fall as Dow sheds nearly 350 points after Fitch credit-rating downgrade

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US stocks fall as Dow sheds nearly 350 points after Fitch credit-rating downgrade

Markets Insider2023-08-03

: Traders work on the floor of the New York Stock Exchange (NYSE) on June 01, 2023 in New York City. Despite the passing the debt ceiling bill in the U.S. House of Representatives, the Dow was lower ...

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Despite the passing the debt ceiling bill in the U.S. House of Representatives, the Dow was lower ...</p>\n\n<a href=\"https://markets.businessinsider.com/news/stocks/stock-market-news-today-dow-fitch-downgrade-fed-debt-credit-2023-8\">Source Link</a>\n\n</div>\n","source":"marketsinsider","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>US stocks fall as Dow sheds nearly 350 points after Fitch credit-rating downgrade</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nUS stocks fall as Dow sheds nearly 350 points after Fitch credit-rating downgrade\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-08-03 04:06 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://markets.businessinsider.com/news/stocks/stock-market-news-today-dow-fitch-downgrade-fed-debt-credit-2023-8><strong>Markets Insider</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>: Traders work on the floor of the New York Stock Exchange (NYSE) on June 01, 2023 in New York City. Despite the passing the debt ceiling bill in the U.S. House of Representatives, the Dow was lower ...</p>\n\n<a href=\"https://markets.businessinsider.com/news/stocks/stock-market-news-today-dow-fitch-downgrade-fed-debt-credit-2023-8\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4585","symbol_name":"ETF&股票定投概念","start_time":0,"source_url":"https://markets.businessinsider.com/news/stocks/stock-market-news-today-dow-fitch-downgrade-fed-debt-credit-2023-8","article_id":"2356147458","we_media_id":null,"thumbnails":["https://images2.markets.businessinsider.com/64caae1095fe1f0019df48fe?format=jpeg"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2356147458","pubTimestamp":1691006778,"sourceInfo":{"source_id":"marketsinsider","name":"Markets Insider"},"weMediaInfo":null,"summary":": Traders work on the floor of the New York Stock Exchange  on June 01, 2023 in New York City. Despite the passing the debt ceiling bill in the U.S. House of Representatives, the Dow was lower in morning trading.US stocks dropped Wednesday, with the Dow shedding nearly 350 points.The sell-off follows Fitch's downgrade of the US debt rating late Tuesday.Here's where US indexes stood as the market closed at 4:00 p.m. on Wednesday:S&P 500: 4,513.35, down 1.38%Dow Jones Industrial Average: 35,282.49, down 0.98% Nasdaq Composite: 13,973.45, down 2.17%","collect":0,"end_time":0,"defaultTopTitle":"businessinsider.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4585":"ETF&股票定投概念","BK4127":"投资银行业与经纪业","BK4552":"Archegos爆仓风波概念","BK4550":"红杉资本持仓","GS":"高盛","NYSE":"纽交所","BK4504":"桥水持仓","BK4533":"AQR资本管理(全球第二大对冲基金)","BK4588":"碎股","IE00BSNM7G36.USD":"NEUBERGER BERMAN SYSTEMATIC GLOBAL SUSTAINABLE VALUE \"A\" (USD) ACC"},"translate_title":"惠誉信用评级下调后，道琼斯指数下跌近350点，美国股市下跌","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"NYSE":1,"GS":0.9},"content_text":": Traders work on the floor of the New York Stock Exchange (NYSE) on June 01, 2023 in New York City. Despite the passing the debt ceiling bill in the U.S. House of Representatives, the Dow was lower in morning trading.\n                            \n\n                                Spencer Platt/Getty\n                              \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n                                      Redeem now\n                                     \n\n\n\n \n\n\n \n \n\n\n \n \n\n\n\n\nUS stocks dropped Wednesday, with the Dow shedding nearly 350 points.\nThe sell-off follows Fitch's downgrade of the US debt rating late Tuesday. \nWall Street remains skeptical of the downgrade, with Goldman Sachs shrugging it off.\n\n\n\n                              Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily.\n                            \n\nLoading\nSomething is loading.\n\n\n\n\n\n\n\n\n\n\n\n\n\nThanks for signing up!\n\n\n                              Access your favorite topics in a personalized feed while you're on the go.\n                              \n                                download the app\n                               \n\n\n\n\n\nEmail address\n\n\n\n\n\n\n\n\n\n                                    By clicking ‘Sign up’, you agree to receive marketing emails from Insider\n                                    as well as other partner offers and accept our\n                                    Terms of Service and\n                                    Privacy Policy.\n                                        \n\n\n\n\nUS stocks dropped sharply Wednesday as investors reacted to a cut to the US debt rating and fresh job-market data.Late Tuesday, Fitch downgraded the long-term credit rating for the US from AAA to AA+, citing the debt ceiling standoff earlier this summer, worsening debt and deficits trends, and even the January 6, 2021, Capitol riot.The downgrade baffled some financial experts, and many Wall Street analysts downplayed it. Strategists at Goldman Sachs shrugged it off, saying it \"should have little direct impact on financial markets as it is unlikely there are major holders of Treasury securities who would be forced to sell based on the ratings change.\"Early Wednesday, ADP said private-sector payrolls expanded by 324,000 in July, down from the prior month's gain but well ahead of forecasts for 175,000, signaling continued strength in the job market.\n\n\n\nHere's where US indexes stood as the market closed at 4:00 p.m. on Wednesday: S&P 500: 4,513.35, down 1.38%Dow Jones Industrial Average: 35,282.49, down 0.98% (348.16 points)Nasdaq Composite: 13,973.45, down 2.17%\n\n\n\nHere's what else is going on: \"Shark Tank\" star Kevin O'Leary said the debt downgrade means there's less faith in the dollar and Treasurys.Oppenheimer said stocks are on track for a 28% gain this year.The housing market might get even more unaffordable with home prices set to spike.Here's what Wall Street expects from Apple's earnings report.\"Magic the Gathering\" fan Post Malone bought the \"One Ring\" card worth millions.Top banks made $6 billion trading the ruble last year, according to a report.A crypto exec forecasted that bitcoin could reach $100,000 by 2025.In commodities, bonds, and crypto: Oil prices dropped, with West Texas Intermediate down 1.98% to $79.76 a barrel. Brent crude, the international benchmark, moved lower 1.73% to $83.44 a barrel.Gold edged lower 0.33% to $1,972.00 per ounce.The 10-year yield ticked up 2.4 basis points to 4.071%.Bitcoin fell 0.24% to $29,172.56.\n\n\n\n\nCheck out: Personal Finance Insider's picks for best cryptocurrency exchanges\n\n\n\n\n\n                            Read next\n                          \n\n\n\nMI Exclusive\nMarkets\nFitch\n\n                        More...\n                      \n\n\n\nClose icon\nTwo crossed lines that form an 'X'. It indicates a way to close an interaction, or dismiss a notification.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"hasMoreComments":false,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}