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BBCNEWS World Business Report June 4, 2024 13:30:00

We start with a downgrade for the us. the ratings agency fitch has lowered its top rating in an unexpected blow to the world s biggest economy. fitch cut the us debt rating from triple a to double a plus, citing concerns over the state of the country s finances and its stewardship of the economy over the last 20 years. the move comes two months after a last minute deal was reached to lift the debt ceiling and avert the country s first ever debt default. the us treasury secretary janet yellen called the downgrade arbitrary and said economic conditions had improved under the biden administration. michelle fleury is in new york for us. the treasury secretary calls it our victory, but as we said there, this spans a period of 20 years or so. fix, spans a period of 20 years or so. significant is this? i think if you ....

Ratings Agency Fitch , Debt Rating , Fitch Cut , Triple A , Double A Plus , Debt Default , Debt Ceiling , Janet Yellen , Michelle Fleury , New York ,

BBCNEWS BBC News Now June 4, 2024 13:30:00

We start with a downgrade for the us. the ratings agency fitch has lowered its top rating in an unexpected blow to the world s biggest economy. fitch cut the us debt rating from triple a to double a plus, citing concerns over the state of the country s finances and its stewardship of the economy over the last 20 years. the move comes two months after a last minute deal was reached to lift the debt ceiling and avert the country s first ever debt default. the us treasury secretary janet yellen called the downgrade arbitrary and said economic conditions had improved under the biden administration. michelle fleury is in new york for us. the treasury secretary calls it our victory, but as we said there, this spans a period of 20 years or so. its, spans a period of 20 years or so. significant is this? i think if you ....

Ratings Agency Fitch , Debt Rating , Triple A , Fitch Cut , Double A Plus , Debt Default , Debt Ceiling , Janet Yellen , Michelle Fleury , New York ,

BBCNEWS World Business Report June 4, 2024 04:31:00

Us treasury secretary janet yellen called the downgrade arbitrary and said economic conditions had improved under the biden administration. the news of the downgrade came after the close of trade on wall street but in asia investors have been pulling out of equities in reaction. let s look at markets now in asia. japan is currently down by over 2%. hong kong not that far behind. this was off the back of yesterday, and most of this week we have seen the sharemarket, certainly wall street and asia having a strong session but this is certainly spooked sentiment. let s discuss this with tom stevenson, who s an investment director at fidelity. good morning. janet woody allen saying this is arbitrary. i have her statement janet yellen and she said she ....

Janet Yellen , Wall Street , Trade In Asia , Hong Kong , Tom Stevenson , Investment Director , Woody Allen ,