US stripped of AAA rating by Fitch as budget deficits swell
World's largest economy now rated below Luxembourg
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World's largest economy now rated below Luxembourg
Fitch cut the US one level from AAA to AA+, echoing a move made more than a decade ago by S&P Global Ratings.
(Bloomberg) -- Fitch Ratings’ downgrade of US government debt sparked criticism from Washington and Wall Street even amid unease that swollen fiscal deficits risk eventual turbulence in markets, the economy and next year’s presidential election.Most Read from BloombergFitch’s US Credit Downgrade Sparks Criticism Along With UneaseMissing Goldman Sachs Analyst Confirmed Dead by New York PolicePoland Sends Troops to Belarus Border After Airspace BreachTrump Indicted on Federal Charges in 2020 Elect
Last time this happened the credit downgrade triggered a stock selloff around the world. Find out more